AMSTERDAM: Prosus NV is acquiring online travel agency Despegar.com Corp for US$1.7bil as the Dutch technology investor seeks to expand its online commerce presence in Latin America.
Despegar’s board approved the offer of US$19.50 a share, a 33% premium to the closing price on Dec 20. “This acquisition demonstrates our strategy to build value by creating high-quality ecosystems of complementary technology businesses,” Prosus chief executive officer Fabricio Bloisi said.
“We will accelerate Despegar’s growth by leveraging the extensive customer touchpoints within our portfolio.”
Prosus was an early investor in Tencent Holdings Ltd, and is now scouring the globe for companies in an effort to replicate its success with the Chinese Internet firm.
Bloisi stands to earn a US$100mil moonshot pay package if he can double the company’s value in four years.
The group has sold off some investments since Bloisi took over, including a stake in Indian online food delivery firm Swiggy during its initial public offering and its holding in China’s Trip.com for about US$1.5bil. — Bloomberg
