RateGain Travel to acquire data exchange platform Adara Inc for $16 million; details here

RateGain Travel Technologies has reached a formal agreement in order to acquire Adara Inc., one of the world’s largest travel data exchange platforms, for $16 million or Rs 132.4 crore. However, there is no share acquisition associated with the transaction. A $16.1 million cash payment will be used to complete the asset purchase deal. This includes an upfront payment of $14.6 million (about Rs 120.1 crore) and a deferred payment of $1.5 million (around Rs 12.4 crore), which must be completed by the end of 2023. According to a CNBC report, the acquisition is likely to be done within one month from the date of execution of the asset purchase agreement. The acquisition is in line with RateGain’s goal of creating an integrated Revmax platform that is centred on expanding wallet share and client base. It will contribute to the development of one of the world’s largest and most complete sources of permission and ethically obtained travel intent data, having an impact on each step of the traveller’s journey. Additionally, the acquisition will increase access to marketing and commercial leadership in large businesses, allowing for growth in related industries like large airlines and destination management organisations (DMOs). Furthermore, it will give RateGain access to a limited group of more than 50 DMOs in the United States, strengthening and consolidating its position among commercial teams in top hotel chains, airlines, and car rental companies that collaborate with both Adara and RateGain. Adara and RateGain will work with more than 700 partners across over 100 countries to create the most comprehensive travel-intent platform. The platform is expected to handle over 200 billion ARI updates, maintain close to 30 billion data points, and work with the industry as a whole. With clients in the US, Europe, the Middle East, and Asia, Adara has its footprint across the world. With the help of artificial intelligence, Adara combines the strength of global data partnerships with more than 24 billion data elements from 130 different nations. The company assists its clients to build stronger connections for increasing consumer engagement and revenue. Operating revenue for Adara recorded in FY 2021–22 was $27.4 million or about Rs 204.4 crore. On the other hand, RateGain, founded in 2004, is India’s leading SaaS platform for the hospitality and travel sectors. Through data analytics and connectivity with other technological platforms, it provides a range of linked products that manage the revenue production value chain for travel and hospitality businesses. The company reported a cumulative net profit of Rs. 19.57 crore in Q2 FY23 in comparison to a net loss of Rs. 3.69 crore in Q2 FY22. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.