Wego, the top online travel marketplace in the MENA (Middle East and North African) area, said today that it has reached a definitive agreement to buy Cleartrip’s Middle East business from India’s homegrown e-commerce platform Flipkart. This transaction also involves the sale of Flyin.com and an agreement between Wego and Flipkart to collaborate on technology.
The acquisition has been accepted by the boards of Wego and Flipkart, and it is expected to close in the second half of 2022, subject to usual closing conditions and regulatory approvals.
Cleartrip and Flyin are both product-driven firms with best-in-class OTA technology that have created strong brands and solid positions across the Middle East according to Wego CEO and Co-Founder Ross Veitch.
They are delighted to welcome Cleartrip Middle East and Flyin to the Wego family. The Middle East is poised to be one of the most exciting growth stories of the next decade, with the travel and technology industries taking centre stage and the Wego group playing an important part. This acquisition considerably expands their scale and skills, as well as their capacity to interact and collaborate across their region. They are also pleased to launch a multifaceted partnership with Flipkart that would involve them sharing a brand across areas and working together on technology.
Their objective is clear: they want to develop a world-class online travel firm that originates in the Middle East but has worldwide ambitions. The region is well positioned to be a growth engine for travel, both as a destination and as a highly mobile, digital-savvy people seeking variety and value. By collaborating with Wego, they are able to provide everything from search to service while also contributing meaningfully to the narrative.
Cleartrip is a pioneer of online travel in India and is famous for its user-friendly interface and industry-first initiatives.
Cleartrip expanded organically into the Middle East region in 2010 and acquired Riyadh based Flyin.com in 2018, which played a similar role in kick-starting online travel in Saudi Arabia. Wego and Cleartrip both have their regional headquarters located in Dubai Internet City.
