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Indian online travel agency Yatra is acquiring rival online hotel distribution network TravelGuru from Travelocity, in yet another high profile consolidation move in the Indian e-commerce space. It was in 2009, that US-based Travelocity acquired Travelguru, and the deal was pegged at around $10-12 million at that time. With the sale of Travelguru, Travelocity would now focus on pushing its mother brand in India rather than playing with a dual-branding strategy.
Moneycontrol: The acquisition has been made in cash and has been funded through the company’s interal accruals and while the management refused to disclose the exact size of the deal, sources have pegged it at around USD 20 million.