RateGain to Acquire Sojern for $250 Million
The acquisition represents a significant strategic move for RateGain, expanding its capabilities and market reach in the hospitality and travel industry. The deal size is substantial.
The acquisition of Sojern is expected to create a stronger, more scalable AI travel tech platform, which is viewed positively. The deal is expected to be accretive.
* RateGain Travel Technologies Limited has entered into a definitive agreement to acquire Sojern. * Sojern offers an AI-powered Hospitality & Travel Marketing Platform. * The total consideration for the acquisition is $250 million (₹2,082.93 crore), to be financed through RateGain's balance sheet cash (including QIP proceeds) of $125 million (₹1,041.46 crore) and debt of $125 million (₹1,041.46 crore). * Sojern's gross revenue for CY2024A is $172.2 million (₹1,436.56 crore), with approximately 85% of revenue from the US and Europe, and an EBITDA of ~$19 million (₹158.41 crore). * The acquisition is expected to create a unique AI-first, digital marketing and distribution platform in Hospitality and Travel. * Post-acquisition, the combined entity is projected to have over $310 million (₹2,584.08 crore) in revenue and over $50 million (₹416.59 crore) in EBITDA, without baking in synergies, based on CY25/FY26 projections.
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Rategain Travel Technologies Limited filed this with the NSE as a statutory disclosure, categorised under mergers & acquisitions. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Rategain Travel Technologies Limited. Read the original for the full detail.