Wego to acquire Cleartrip’s Middle East Business from Flipkart

Wego, the online travel marketplace in the MENA region announced that it has signed a definitive agreement with the Flipkart Group, India’s homegrown e-commerce ecosystem, to acquire Cleartrip’s Middle East business.

This transaction also includes the sale of Flyin.com and a technology cooperation agreement between Wego and Flipkart.

The transaction is expected to close in the second half of 2022. Cleartrip, the online travel company in India 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.

Ross Veitch, CEO & Co-Founder of Wego said, “we are excited to welcome Cleartrip Middle East and Flyin into the Wego group. The Middle East is set to be one of the most exciting growth stories of the next decade with the travel & technology sectors taking center stage and with the Wego group playing a very crucial role." 

"This acquisition will significantly increase our scale and capabilities and will strengthen our ability to partner and collaborate across our region. We are also excited to begin a multi-faceted partnership with Flipkart that will involve us sharing a brand across regions and co-operating on technology.”

Ravi Iyer, Senior Vice President and Head – Corporate Development, Flipkart said, “given our strategic priorities and focus on the Indian market, the acquisition of Cleartrip’s Middle East business by Wego provides continuity to its business, and we believe that they are the right partners to boost its next phase of growth.  

Stuart Crighton, Co-Founder and Head of Cleartrip’s International Business, said, “By joining forces with Wego, we are able to offer everything from search to service and to contribute meaningfully to that story.”

Rothschild and Co. were exclusive advisors to Flipkart on this transaction.