Prosus’ acquisition of Despegar will strengthen the company’s presence in the e-commerce, travel and fintech sectors in Latin America.
In September 2021, we told you that Prosus, one of the world’s leading technology investors, acquired India-based BillDesk for $4.7 billion. The company came to the agenda again with an acquisition deal.
Prosus is buying Despegar, Latin America’s largest online travel platform, for $1.7 billion. The acquisition deal is expected to be finalized in the second quarter of 2025.
Prosus aims to expand its operations in this region with the acquisition deal. Despegar was founded in Argentina in 1999. The company has become one of the largest travel brands in Latin America. Despegar operates in 19 Latin American markets and processes 9.5 million transactions annually.
Prosus’ acquisition of Despegar will strengthen the company’s presence in the e-commerce, travel and fintech sectors in Latin America. Prosus plans to reach more than 100 million customers with this acquisition.
Prosus CEO Fabricio Bloisi said that Despegar is highly profitable and has a strong market position and this acquisition will support the company’s strategic objectives in Latin America. Despegar CEO Damián Scokin said that this deal offers great value for the company and Prosus’ deep understanding of the Latin American ecosystem is an important opportunity for growth.
We should also remind you that Despegar is publicly traded on the NYSE and last Friday the company’s market capitalization reached $1.24 billion.
