On December 23, 2024, Prosus, a global technology investor and subsidiary of Naspers, announced its acquisition of Despegar, a prominent online travel agency in Latin America, for $1.7 billion.
This deal, priced at $19.50 per share, represents a 33 percent premium over Despegar's recent closing price.
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Prosus CEO highlights strategic acquisition
Fabricio Bloisi, CEO of Prosus, stated the strategic nature of this acquisition: “This acquisition demonstrates our strategy to build value by creating high-quality ecosystems of complementary technology businesses.”
He highlighted Despegar's strong market position and profitability as key factors in the decision. Despegar operates in 19 Latin American countries and handles over 9.5 million transactions annually, generating significant revenue.
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Despegar CEO: Positive outlook on Prosus merger
Damián Scokin, CEO of Despegar, expressed optimism about the merger: “This is an exciting development that delivers a great outcome for Despegar stakeholders.” He believes that joining Prosus will enhance customer experiences and loyalty benefits.
The acquisition aims to leverage Prosus’s resources and advanced AI capabilities to accelerate Despegar's growth trajectory.
The deal is expected to close in the second quarter of 2025, pending regulatory approvals.
With this acquisition, Prosus aims to strengthen its presence in the rapidly growing Latin American digital economy, joining forces with existing platforms like iFood. This strategic move positions both companies for enhanced collaboration and regional market expansion.
