Walmart-owned Flipkart said on Thursday that it would acquire online travel technology company Cleartrip. The company said in a statement that Flipkart would acquire the entire 100 percent shareholding of Cleartrip to increase the digital commercial offering for its customers.
According to the statement, Cleartrip will be acquired by Flipkart under this agreement, although Cleartrip will continue to operate as a separate brand. All Cleartrip employees will be retained and will work closely with Flipkart in developing technology solutions to simplify the customer journey.
Flipkart, however, did not say how much the deal amounted to. Kalyan Krishnamurthy, CEO of Flipkart Group, said that Flipkart Group is committed to improving customer experiences through digital commerce. Cleartrip is synonymous with travel for many customers, and as we seek to move forward in diversity and new areas of growth, this investment will help strengthen our broad offering for customers.
He said that Cleartrip’s team together with the Flipkart Group with its deep experience and technology capabilities will help provide customers with a better travel experience. Cleartrip CEO and co-founder Stuart Crighton said the company had been a leader in the use of technology to make the travel experience easier for customers. The deal is subject to regulatory approvals.