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Online travel portal EaseMyTrip (EMT) has acquired a majority stake in three travel companies to strengthen its presence in Indian and overseas markets. The acquired companies include Guideline Group, Tripshope online and Dook Travels. The company did not disclose the acquired entities’ deal size or share revenue details.
EMT said it would acquire a 51 per cent stake in each of the three companies in an all-stock stock transaction. “The consideration for the proposed acquisition will be paid by EaseMyTrip by way of issuance of its equity shares to the selling shareholders of the respective target companies on a preferential basis,” the company said.
While Guideline Travels specialises in outbound and cruise segments, Dook Travels focuses on destination management services in CIS countries. Tripshope Online is a Kashmir-ased firm offering a wide range of travel products, including hotels and flight bookings, it said.
EMT's revenue from operations grew 90 per cent yearly to ₹448 crore in FY23 on the back of growth in air ticket sales. Net profit for the year stood at ₹134 crore against ₹105 crore in FY22.
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