Key Factors
- Prosus accomplished its $1.7 billion acquisition of Despegar, gaining Latin America’s largest on-line journey company to bolster its digital way of life platform within the area.
- The deal aligns with Prosus’s strategic give attention to high-growth sectors like journey, meals, fintech, and classifieds throughout Latin America, India, and Europe.
- Despegar brings sturdy profitability, processing over 9.5 million transactions yearly and reporting $706 million in income and $116 million EBITDA in 2023.
Prosus N.V., the worldwide client web group led by South African billionaire Koos Bekker, has finalized its acquisition of Despegar, Latin America’s largest on-line journey company, at a purchase order value of $19.50 per share, to speed up its way of life ecosystem technique within the area.
The deal, first announced in Dec. 2024, follows approval from Despegar’s board, shareholders, and all related regulatory our bodies, marking a strategic growth of Prosus’s digital way of life ecosystem throughout Latin America. The transaction reinforces the group’s ambition to deepen its presence in high-growth markets by way of focused acquisitions.
Despegar turns into a part of Prosus portfolio
With the completion of the transaction, Despegar joins a portfolio that features main regional gamers like iFood in meals supply, OLX Brazil in classifieds, Sympla in occasions and experiences, and Prosus’s increasing fintech platform. Prosus intends to combine Despegar’s journey platform with its broader ecosystem, enhancing buyer comfort and unlocking new income streams.
“This acquisition accelerates our imaginative and prescient to construct essentially the most dynamic way of life e-commerce ecosystems throughout Latin America, India, and Europe,” mentioned Fabricio Bloisi, CEO of Prosus Group. “By including Latin America’s high journey platform to our portfolio, we’re redefining way of life e-commerce by creating experiences that don’t simply meet wants, however anticipate them.”
Despegar to drive innovation and development beneath Prosus
Despegar, based in Argentina in 1999, operates throughout 19 international locations in Latin America and processes over 9.5 million transactions yearly. In 2023, the corporate reported $5.3 billion in gross bookings, $706 million in income, and $116 million in EBITDA, underscoring its scale and profitability.
“With Prosus as our accomplice, we’ll profit from scale and experience in AI to speed up development and broaden our service portfolio,” mentioned Damián Scokin, CEO of Despegar. “We intention to set new requirements in journey whereas contributing to constructing Prosus’s place as Latin America’s premier way of life ecosystem model.”
Prosus continues strategic portfolio optimization
Based in 1997 beneath the management of Koos Bekker, Prosus N.V. has grown into one of many world’s largest know-how traders and a number one world client Web group. A division of the South African multinational Naspers—additionally chaired by Bekker—Prosus holds a diversified worldwide portfolio spanning fintech, ed-tech, e-commerce, meals supply, and social platforms. Bekker owns a 0.84 % stake within the firm, at present valued at $845.8 million.
The acquisition enhances Prosus’s latest strategic initiatives, together with share buybacks and capital reallocation towards high-growth property. The group, majority-owned by South African tech conglomerate Naspers, continues to boost worth by way of focused growth throughout meals, fintech, journey, and digital classifieds.
