Online travel aggregator Cleartrip today said it has acquired Saudi Arabia's Flyin for an undisclosed amount to capitalise on the growing shift to online in the Middle East and North Africa (MENA) region.
The combined company will have over 60 per cent market share throughout the Middle East and improved profitability due to better unit economics and larger scale of operations, Cleartrip said in a statement.
The company, however, did not give any financial details of the acquisition.
Cleartrip Founder and CEO Stuart Crighton said, "Having established a strong position in India with our world class products, we are pushing ahead with our ambitious expansion plans in the MENA market, and together with Flyin, we have reached a major milestone in our journey."
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