This travel technology stock surges more than 3 per cent after announcing acquisition!

The company informed the exchange that they have entered into definitive agreement to acquire Adara Inc through an asset purchase agreement for a cash consideration of Rs 132.4 crore

On Tuesday, shares of Rategain Travel Technologies surged more than 3.6 per cent to make an intraday high of Rs 302.20. The scrip witnessed a spurt in volume by more than 1.03 times and closed 1.75 per cent up at Rs 296.75.  

The company informed the exchange that they have entered into definitive agreement to acquire Adara Inc through an asset purchase agreement for a cash consideration of Rs 132.4 crore. This acquisition will strengthen and consolidate RateGain’s position across commercial teams in leading hotel chains, airlines and car rental companies which work with both Adara and RateGain as well as give access to a niche segment of more than 50 destination marketing organisations in the United States.   

Together Adara and RateGain will become the most comprehensive travel-intent platform that processes over 200 billion ARI updates, manages close to 30 billion data points and works with 700+ partners across 100+ countries giving the industry a single source to understand intent, target them and convert them.  

RateGain Travel Technologies Limited is a global provider of SaaS solutions for travel and hospitality that works with 2200+ customers in over 100 countries helping them accelerate revenue generation through acquisition, retention and wallet share expansion. The company is one of the world’s largest processors of electronic transactions and price points for the travel and hospitality industry and is the largest Software as a Service (“SaaS”) company in the hospitality and travel industry in India.    

Keep a close eye on this trending travel technology company.