Prosus Acquires Despegar to Expand Latin America Reach
Prosus has finalized its acquisition of Latin America-based online travel agency Despegar in a deal valued at $19.50 per share. The agreement marks a strategic step in Prosus’s effort to build a digital lifestyle ecosystem across the region, encompassing travel, fintech, food delivery, classifieds, and events.
The acquisition, originally announced in December 2024, received approval from Despegar’s board of directors and relevant regulators. As part of the deal, a Prosus subsidiary will merge with Despegar, transitioning the travel company into a privately held entity and resulting in its delisting from the New York Stock Exchange.
Based in the Netherlands and owned by Naspers, Prosus is already a significant player in Latin America through its investments in companies like iFood, OLX Brazil, and fintech ventures. The addition of Despegar, the region’s top travel booking platform, strengthens Prosus’s foothold in consumer-facing digital services.
Prosus CEO Fabricio Bloisi emphasized that the acquisition would unlock new synergies across its portfolio. “By adding Latin America’s top travel platform to our portfolio and leveraging iFood’s scale, our fintech capabilities, Sympla’s events and experiences, and OLX Brazil, we will unlock greater convenience for customers and open exciting new revenue streams,” he said.
Damián Scokin, CEO of Despegar, expressed confidence in the company’s future under the Prosus umbrella. He said the company will leverage Prosus’s scale and AI expertise to drive innovation and expand its offerings. “We will continue to accelerate innovation and set new standards in the travel market,” Scokin added.
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