Prosus entered a merger agreement on December 23, 2024, to acquire Latin American online travel agency Despegar.com, Corp. (DESP) for $1.7 billion in cash.
As per the terms of the agreement, a wholly owned subsidiary of Prosus will merge with Despegar, with Despegar continuing as the surviving entity, and each outstanding share of Despegar will be converted into the right to receive $19.50 per share in cash, representing a 33.11% premium from the stock’s last close.
Despegar is a leading Latin American travel technology company, offering a wide range of travel products and services—such as flights, hotels, packages, and financing options—through its online platforms and brands like Decolar, Best Day, and Koin.
Prosus is a global technology investor and operator, focusing on building leading companies in online classifieds, payments and fintech, food delivery, and education technology across markets including Europe, India, and Brazil.
Once the transaction is complete, expected in the second quarter of 2025, Despegar will become a private company.
The acquisition deal values Despegar at 1.55 times its sales, as paid by Prosus.
To gain further insights into this M&A transaction, please refer to the Deal Metrics page at the following link:
Deal Metrics for the acquisition of Despegar.com, Corp. (DESP) by Prosus
The Deal Metrics page for each merger or acquisition includes:
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Editor’s Note: Baranjot Kaur contributed to this article