MakeMyTrip Limited Acquires EasyToBook.com Group
MakeMyTrip Limited completed its acquisition of the entire equity interest in a group of companies comprising the EasyToBook.com Group.
New Delhi and New York, February 6, 2014 MakeMyTrip Limited, India's leading online travel company, completed its acquisition of the entire equity interest in a group of companies comprising the EasyToBook.com Group (“ETB”). MakeMyTrip purchased shares from the existing shareholders of ETB and invested a further amount into ETB. The total purchase consideration and investment in ETB is approximately USD 5 million.
Established in 2004, ETB primarily operates through the website www.easytobook.com and offers its customers online hotel reservations in Europe, North America and other key global travel destinations. The company has unique front-end web design capabilities and has developed proprietary technologies for powering affiliate travel websites as well as dynamic shopping of various travel products. The company is headquartered in Amsterdam, Netherlands with a technology development team based in Herzliya, Israel.
The acquisition of ETB is expected to further strengthen the existing travel technology stack of MakeMyTrip.com and to enhance the international hotel room offerings for customers travelling overseas, particularly to Europe which is a key tourist destination for Indians, and vice versa.