RateGain Travel to buy data exchange platform Adara Inc for $16.1 Mn
- ByStartupStory | January 3, 2023
RateGain Travel Technologies Ltd, travel and hospitality technology service provider, announced on Tuesday that it has agreed to purchase data exchange platform Adara Inc for $16.1 million (around Rs 134 crore).
With this acquisition, RateGain hopes to strengthen its commercial teams in hotel chains, airlines, and car rental companies that collaborate with both the company and Adara, as well as gain access to a niche segment of over 50 destination marketing firms in the United States, according to a statement.
According to BSE filings, the company will pay an upfront consideration of $14.6 million (Rs 120.1 crore), with the remaining $1.5 million (Rs 12.4 crore) paid on or before December 31, 2023.
“Adara’s key differentiator is its access to travel-intent data from the world’s top travel and hospitality players as well as destination marketing organizations and relying less on traditional methods of tracking consumer intent,” said Bhanu Chopra, chairman and founder, RateGain. Adara provides access to ethically sourced costumer data. It was founded by Charles Mi in San Francisco in 2009.
Follow Startup Story
Related Posts
