Cleartrip buys Saudi Arabia’s Flyin as its first overseas acquisition
Online travel agency Cleartrip has sealed its first ever cross-border acquisition in Saudi Arabia's Travel Aggregator Flyin. The acquisition will help Cleartrip strengthen its presence and expand its client base in Saudi Arabian market.
Though the financial details of the deal have not been disclosed by the travel firm, it has come six years after Cleartrip entered the Gulf Cooperation Council region in 2012.
As informed by the company, the combined entity will account for 60% of market share in the Middle East, which will enable both the companies to strengthen their travel offerings to cater to a diverse customer base.
Stuart Crighton, Founder and CEO of Cleartrip said,
With its strong customer base and rich travel offerings, Flyin is the natural partner for us in the region. W...