Easy Trip Planners Ltd., which runs online travel platform EaseMyTrip, on Wednesday announced that it has acquired a 55 percent stake in Glegoo Innovations Pvt. Ltd. for Rs 3 crore.

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In a filing to stock exchanges, Easy Trip Planners said that it signed a share purchase agreement with Glegoo Innovations on January 24.

Glegoo Innovations is an Andhra Pradesh-based company that provides online travel and tours-related services. It was registered with the Registrar of Companies, Vijayawada, on April 10, 2019.

Easy Trip Planners said that Glegoo Innovations will add a new revenue vertical for the company and enable it to scale up the business for online tours and travel-related services.

The acquisition announcement comes just a day after the company rolled out its EaseMyTrip franchise programme to offer a retail store experience to customers.

The company said that it aimed to tap into a new set of offline customers and expand the reach of EaseMyTrip with the new franchise program.

Shares of Easy Trip Planners ended 4.4 percent lower at Rs 51. The stock declined for the third straight day and has now declined in six out of the last seven trading sessions.

(Edited by : Rukmani Krishna)