Bangalore – February 21, 2022 (GPN): Wego, the leading online travel marketplace in the MENA region today announced that it has signed a definitive agreement with the Flipkart Group, India’s homegrown e-commerce ecosystem, to acquire Cleartrip’s Middle East business. This transactionalso includes the sale of Flyin.com and a technology co-operation agreement betweenWego and Flipkart.

The Boards of Directors of Wego and Flipkart have approved the transaction, which is expectedto close in the second half of 2022, subject to customary closing conditions and regulatoryapprovals.

Cleartrip is a pioneer of online travel in India and is famous and much loved by customers for itsuser-friendly interface and industry-first initiatives. Cleartrip expanded organically into the Middle East region in 2010 and acquired Riyadh based Flyin.com in 2018, which played a similar role in kick-starting online travel in Saudi Arabia.Wego and Cleartrip both have their regional headquarters located in Dubai Internet City.

“Cleartrip and Flyin are both product-driven companies with best-in-class OTA technology that have established strong brands and strong positions across the Middle East,” said Ross Veitch, CEO & Co-Founder of Wego. “We are excited to welcome Cleartrip Middle East and Flyin intothe Wego group. The Middle East is set to be one of the most exciting growth stories of the next decade with the travel & technology sectors taking center stage and with the Wego group playing a very crucial role. This acquisition will significantly increase our scale and capabilities and will strengthen our ability to partner and collaborate across our region. We are also excited to begin a multi-faceted partnership with Flipkart that will involve us sharing a brand across regions and co-operating on technology.”

“The opportunity in travel tech for India is vast, and through Cleartrip, we have been able to provide our customers with a wide range of travel experiences and deeper value,” said Ravi Iyer, Senior Vice  President and Head – Corporate Development, Flipkart. “Given our strategic priorities and focus on the Indian market, the acquisition of Cleartrip’s Middle East business by Wego provides continuity to its business, and we believe that they are the right partners to boost its next phase of growth. We thank Stuart for his leadership and partnership over the past year as Cleartrip India has become an integral part of the Flipkart Group and wish him and the Wego team continued success.”

Stuart Crighton, Co-Founder and Head of Cleartrip’s International Business, said, “Our focus is clear, building a world-class online travel business emanating from the Middle East but with global ambitions. The region is well placed to be the engine of growth for travel both as adestination and as a highly-mobile, digital-savvydemographic looking for choice and value. By joining forces with Wego, we are able to offer everything from search to service and to contribute meaningfully tothat story.” 

Rothschild and Co. were exclusive advisors toFlipkart on this transaction.

About Wego

Wego operates the largest online travel marketplace in the Middle East and North Africa(MENA) region and provides award-winning travel search websites and top-ranked mobile apps.Wego harnesses powerful technology toautomate and simplify the process of searching,comparing and booking travel across hundreds of airlines, hotel chains and online travel agencies. Founded in 2005, Wego is dual-headquartered in Dubai and Singapore and is backed by investors including Tiger Global Management, Crescent Point, Square Peg Capital, Middle East VenturePartners and the MBC Group.

Email: [email protected]

About the Flipkart Group

The Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Health+, Flipkart Wholesale, and Cleartrip. The Group is also amajority shareholder in PhonePe, one of theleading Payments Apps in India.

Started in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and smallbusinesses to be a part of India’s digital commerce revolution, with a registered customer base of more than 350 million, offering over 150 million products across 80+ categories. Our efforts to democratize commerce in India, drive access and affordability, delight customers, create lakhs of jobs in the ecosystem, and empower generations of entrepreneurs and MSMEs have inspired us to innovate on manyindustry firsts. Flipkart is known for pioneeringservices such as Cash on Delivery, No Cost EMI and easy returns – customer-centric innovation have made online shopping more accessible andaffordable for millions of Indians. Together withits group companies, Flipkart is committed totransforming commerce in India throughtechnology.

For more information, please write to [email protected].