Through the acquisition, Yatra will gain Globe Travels’ portfolio of approximately 360 corporate customers and annual gross bookings of approximately $90 million. The acquisition, according to the announcement, is expected to further solidify Yatra’s position as the leader in the corporate travel sector and marks a significant expansion of its corporate customer footprint in India.
Highlights of the deal, according to the announcement, include:
Expanded reach and market share: Yatra adds approximately 360 Globe customers to its current base of over 850 corporate clients through the acquisition, significantly expanding its leadership position and market share in India’s corporate travel segment.
Corporate travel and MICE expertise: Globe Travels, according to the announcement, is recognized for its robust capabilities in meetings, incentives, conferences, and exhibitions (MICE). Adding Globe Travels’ strong capabilities to Yatra’s recent organic MICE expansion will make Yatra one of the largest players in India in this segment.
Minimal customer base overlap and high cross-sell potential: Yatra gains access to a new and diverse set of clients through the acquisition with minimal overlap in the corporate customer base, thereby further diversifying its client portfolio across industries.
Synergistic benefits: With annual gross bookings of $90 million and adjusted earnings margins of over 20%, the acquisition is expected to be immediately accretive to Yatra’s financials, with further potential for margin expansion as synergies are realized.
