Transaction Details

June 29, 2018
Stockholm

Sector

Consumer, Retail, E-commerce and Leisure

Deal Type

M&A

Deal Value

N/D

Deal Team

Raymond Frojd

Flyin sold to Cleartrip

Flyin: Saudi Arabia’s leading online travel aggregator

Founded in 2008, Flyin, the first and largest online travel aggregator in Saudi Arabia, offers integrated travel services and innovative solutions for customers across the MENA region and around the world.

Through its direct access to over 320,000 hotels, more than 450 airlines and one of the widest networks of travel products and services, Flyin is the largest online travel company in Saudi Arabia. Moreover, with its focus on customer service, this ensures it is the preferred one-stop-shop for the Saudi traveller.

A combination which will enable both companies to leverage new technologies, talents and business intelligence to strengthen their travel offerings

Cleartrip is the leading online travel & leisure aggregator in the Middle East and India. Founded in 2006, Cleartrip offers its customers a comprehensive and personalised travel experience through its innovative and award-winning mobile and desktop solutions. Combining intuitive products with a customer-centric approach and the widest selection of flights and hotels, Cleartrip brings a highly differentiated value proposition to market, offering convenience, choice, competitive prices and exclusive content.

The partnership will benefit both Cleartrip and Flyin as they make strides to capitalise on the growing shift to online in the Middle East and North Africa (MENA) region, which is home to a large population of tech-savvy consumers and has among the highest levels of smartphone and internet penetration in the world.

Together, the combined company will have over 60% market share throughout the Middle East. The combination marks the largest online travel transaction in the MENA region so far.

GCA Altium acted as sole advisor to the sellers.

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