The tourism products portal Decolar announced an agreement to acquire Brazilian rival ViajaNet for around US$ 15 million, intensifying the acquisitions campaign in the country to accelerate its revenues.
According to a statement from Decolar, 60% of the value of the deal will be paid at closing, with another 20% settled 24 months later and the remaining 20% 36 months after the acquisition. Companies will keep their brands and work independently.
ViajaNet had revenues of around US$30 million in 2019, the most recent figure released.
“The closing of the transaction should take place in the second quarter of 2022,” said Decolar, which is headquartered in Argentina and presents itself as the largest online tourism platform in Latin America.
In April, the vice president of Decolar, Alberto López Gaffney, told Reuters that the company planned to make acquisitions in Brazil to capitalize on the resumption of one of the sectors most affected in the world by the pandemic.
Source: CNN Brasil
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