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Updated Apr 14, 2021 | 11:15 IST The deal may be a mix of cash and equity and likely to value Cleartrip at about $40 million in what’s considered to be a distress sale. Flipkart likely to acquire Cleartrip  New Delhi: Walmart-owned ecommerce firm Flipkart is close to acquiring travel and hotel booking platform Cleartrip in a distress sale, the Economic Times mentioned in a report citing two people having knowledge of the development.  The deal may be a mix of cash and equity and likely to value Cleartrip at about $40 million in what’s considered to be a distre...

India: Flipkart to buy travel and hotel booking platform Cleartrip REUTERS/Abhishek N. Chinnappa April 14, 2021 Flipkart Group is close to buying travel and hotel booking platform Cleartrip in a distress sale, three people aware of the matter said, as the Walmart-owned e-commerce giant strengthens its operations in the hospitality segment. The cash-and-stock deal valuing Cleartrip at almost $40 million may close in the next 10 days, said two of the three people cited above, all of whom spoke on condition of anonymity. The deal comes at a time the hospitality industry continues to reel from th...

Flipkart likely to acquire Cleartrip in a $40 million deal The acquisition of Cleartrip by Flipkart will expand its scope of services into the travel and hospitality segment, bringing it into the ecommerce fold. 0 claps Cleartrip, the Mumbai-based online travel aggregator, in a deal valued at around $40 million, according to sources familiar with the development. The transaction, which is expected to close soon, is most likely to be a cash-cum-equity deal. The acquisition brings travel and hospitality services to Flipkart's portfolio, gives the ecommerce giant a wider play in the online cons...

ICT Networks' Mark Maloney takes on Rob Kingma's legacy as CEO ICT Networks' Mark Maloney takes on Rob Kingma's legacy as CEO Maloney has been with ICT Networks for close to six years. Mark Maloney (ICT Networks) Credit: ICT Networks Effective immediately, Maloney will assume the responsibilities of the CEO role and build on his already strong relationships with vendors, clients and the company’s sales team in his new capacity.  The networking specialist, which announced the new appointment to its clients and vendor partners on 13 April, said Maloney’s highly impr...

Flipkart likely to bag Cleartrip for $40 million in distress sale SECTIONS Share Synopsis Talks of a potential Flipkart-Cleartrip deal comes at a time when the Walmart-owned e-commerce firm is making strategic investments across sectors to build an ecosystem of online services. Mumbai:Flipkart is finalising the acquisition of Cleartrip, one the oldest travel booking portals in India, two people in the know said, as the Walmart-owned online retailer continues to make strategic investments across sectors to strengthen its portfolio and build an ecosystem around it. The Flipkart-Cleartrip deal, ...