Nasdaq-listed online travel services firm MakeMyTrip India Pvt Ltd has acquired Hotel Travel Group (HT Group) for $25 million.
Of the total $25 million, $15 million was paid partly in cash and partly in the form of MakeMyTrip shares on November 6. The balance $10 million is in the form of MakeMyTrip shares in three annual tranches through March 2016.
Online travel Web site HT Group has been operating the website
Speaking on the acquisition, Deep Kalra, Founder and CEO, MakeMyTrip.com, said: “Access to HotelTravel.com’s inventory will help us significantly expand the range of best-value hotel offerings available to Indian customers. The acquisition will help to build a stronger presence in the South-East Asia region.”