Yatra Online announced that it has entered into a definitive agreement, through its subsidiary, Yatra Online Limited, to acquire 100% of Globe All India Services Limited, a premier Corporate Travel Services provider for INR 1280 million, ~USD 15.25 million, in cash. Through this acquisition Yatra will gain Globe Travels’ portfolio of approximately 360 corporate customers and annual gross bookings of approximately USD 90 million. This strategic acquisition is expected to further solidify Yatra’s position as the leader in the corporate travel sector and marks a significant expansion of its corporate customer footprint in India. The transaction is expected to close within three months of the signing of the agreement, subject to certain closing actions and satisfaction of the conditions precedent as specified in the agreement.
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