Prosus N.V. (PRX.AS) announced that it has officially completed its acquisition of Despegar, Latin America's leading online travel agency, for $19.50 per share, following board, shareholder, and regulatory approvals.
This strategic move reinforces Prosus's ambition to expand its footprint in Latin America by enhancing its growing digital lifestyle ecosystem that spans food delivery, classifieds, travel, experiences, and fintech, serving over 100 million customers in the region.
The integration of Despegar marks a key step in Prosus's broader global strategy to strengthen its e-commerce lifestyle offerings in key markets, including Latin America, India, and Europe. By leveraging assets like iFood, OLX Brazil, Sympla, and its fintech capabilities, Prosus aims to drive greater customer convenience and unlock new revenue streams.
Prosus Group CEO Fabricio Bloisi noted that bringing Despegar into its portfolio supports the company's mission to redefine lifestyle ecommerce by anticipating and fulfilling evolving customer needs through an interconnected ecosystem of services.
Despegar CEO Damián Scokin expressed optimism about the partnership, emphasizing the potential to scale faster, innovate more aggressively, and elevate service standards in the travel sector by tapping into Prosus's AI expertise and operational scale.
PRX.AS is currently trading at $46.1 or 1.60% lower on the Euronext Amsterdam.
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