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| Flipkart will acquire Cleartrip, did not reveal the value of the deal |
Walmart-owned Flipkart will acquire online travel technology company Cleartrip. Flipkart has given information about this on Thursday. A statement said Flipkart would acquire 100 percent of Cleartrip's shareholding, as the company is investing to strengthen its digital commerce. The company, however, did not disclose the value of the deal.
Under this agreement, Cleartrip's operations will be acquired by Flipkart and Cleartrip will continue to operate as a separate brand. All Cleartrip employees will have to work closely with Flipkart to develop technology solutions to make customer travel easier.
Kalyan Krishnamurthy, CEO of Flipkart Group, said, The Flipkart Group is committed to transforming customer experiences through digital commerce. Cleartrip is synonymous with travel for many customers, and as we look at new areas of diversity and growth, this investment will help strengthen our expansion for customers.
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