Walmart-owned Flipkart announced today that it will acquire the popular online travel technology company Cleartrip,

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Flipkart said today in a statement that it will acquire 100 percent of Cleartrip's shareholding. As per the statement, the move is part of its plans to enhance its investments to strengthen its digital commerce offerings for customers.

Under the terms of the agreement, Cleartrip will continue to operate as a separate brand. All employees of Cleartrip will be retained and will work closely with Flipkart. The company, however, did not disclose the value of the deal.

#JustIn | @Flipkart has officially announced that it will acquire #Cleartrip pic.twitter.com/Gza2VYPtUt

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"The Flipkart Group is committed to transforming customer experiences through digital commerce. Cleartrip is synonymous with travel for many customers, and as we diversify and look at new areas of growth, this investment will help strengthen our wide range of offerings for customers," Flipkart Group CEO Kalyan Krishnamurthy said.

Also read: Flipkart set to acquire Cleartrip for $40 million: Report

He added that the Cleartrip team, with its deep industry knowledge and technology capabilities, will help Flipkart Group provide deeper value and travel experiences for customers.

Stuart Crighton, CEO and co-founder of Cleartrip, said the company has been a pioneer in capitalising on technology to simplify the travel experience for our customers.

"This product-driven focus has enabled us to become the preferred travel partner of choice for consumers in a wide range of markets in the region," he added.

The deal closing will be subject to applicable regulatory approvals.

-with PTI inputs

First Published:Apr 15, 2021 2:30 PM IST