Despegar.com (DESP) and Prosus Complete Acquisition

Prosus, a global technology company, and Despegar, Latin America’s leading online travel agency, today jointly announce the completion of Prosus’s acquisition of Despegar (NYSE: DESP) at a purchase price of $19.50 per share.

Completion of the transaction follows approval by Despegar’s board of directors and shareholders, and receipt of all required regulatory clearances.

The transaction marks a significant milestone in Prosus’s strategy to expand and strengthen its presence in Latin America, where the Group is creating a digital lifestyle ecosystem serving over 100 million customers across food delivery, classifieds, travel, experiences and fintech.

Fabricio Bloisi, CEO of Prosus Group said:

“With Despegar joining the Prosus family, we’re accelerating our vision to build the most dynamic lifestyle ecommerce ecosystems across Latin America, India, and Europe. By adding Latin America’s top travel platform to our portfolio and leveraging iFood’s scale, our fintech capabilities, Sympla’s events and experiences, and OLX Brazil, we will unlock greater convenience for customers and open exciting new revenue streams. We are redefining lifestyle ecommerce by creating experiences that don’t just meet needs, but anticipate them.”

Damián Scokin, CEO of Despegar said:

"With Prosus as our partner, we will benefit from scale and expertise in AI to accelerate growth and expand our service portfolio. We will continue to accelerate innovation, and set new standards in the travel market, while also contributing to building Prosus’s position as Latin America’s premier lifestyle ecosystem brand."

For more details and previous announcements from Prosus and Despegar on this transaction, please see the links below.

• Prosus | Prosus to acquire Latin America’s leading online travel agency, Despegar
• Despegar | Despegar enters into merger agreement to be acquired by Prosus for $19.50 per share in cash

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