MakeMyTrip.com, Inc.: MakeMyTrip Limited Acquires EasyToBook.com Group
New Delhi and New York, February 6, 2014 MakeMyTrip Limited (Nasdaq:MMYT),
India's leading online travel company, completed its acquisition of the entire
equity interest in a group of companies comprising the EasyToBook.com Group
("ETB"). MakeMyTrip purchased shares from the existing shareholders of ETB
and invested a further amount into ETB. The total purchase consideration and
investment in ETB is approximately USD 5 million.
Established in 2004, ETB primarily operates through the website
www.easytobook.com and offers its customers online hotel reservations in
Europe, North America and other key global travel destinations. The company
has unique front-end web design capabilities and has developed proprietary
technologies for powering affiliate travel websites as well as dynamic
shopping of various travel products. The company is headquartered in
Amsterdam, Netherlands with a technology development team based in Herzliya,
The acquisition of ETB is expected to further strengthen the existing travel
technology stack of MakeMyTrip.com and to enhance the international hotel room
offerings for customers travelling overseas, particularly to Europe which is a
key tourist destination for Indians, and vice versa.
About MakeMyTrip Limited and MakeMyTrip.com
MakeMyTrip Limited is the parent company of MakeMyTrip (India) Private
Limited, India's largest online travel company, MakeMyTrip Inc. (USA),
MakeMyTrip FZ LLC (UAE), Luxury Tours & Travel Pte Ltd (Singapore), Luxury
Tours (Malaysia) Sdn Bhd, the Hotel Travel Group (Thailand) and the ITC Group
(Thailand). The Company's services and products include air tickets,
customized holiday packages, hotel bookings, railway tickets, bus tickets, car
hire and facilitating access to travel insurance. Through its primary
websites, www.makemytrip.com and www.hoteltravel.com, and other
technology-enhanced platforms, the Company provides access to all major
domestic full-service and low-cost airlines operating to and from India, all
major airlines operating to and from India, over 11,400 hotels and guesthouses
in India, more than 144,000 hotels outside India, Indian Railways and several
major Indian bus operators.
For more details, please contact:
+1 (646) 405-1311
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: MakeMyTrip.com, Inc. via Globenewswire
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