e-commerce marketplace Flipkart has announced the proposed acquisition of Cleartrip. Flipkart will acquire 100 per cent of Cleartrip’s shareholding, as the company further enhances its investments to strengthen its digital commerce offerings for customers.
This transaction was in line with Flipkart’s strategy to diversify into product lines and categories via the M&A route and drive more GMV (gross merchandise value).
Under the terms of the agreement, Cleartrip operations will be acquired by Flipkart. Cleartrip will continue to operate as a separate brand, retaining all employees while working closely with Flipkart to further develop technology solutions to make travel simple for customers.
Kalyan Krishnamurthy, CEO, Flipkart Group,…