 "DreamFolks Services to acquire 60.24% stake in Dubai's Easy to Travel")
DreamFolks Services, the Gurugram-based travel and lifestyle experiences company, said on Monday that it will acquire a 60.24 per cent stake in Dubai-based Easy to Travel (ETT), an airport services distribution platform. The move is in line with the company’s recent plan to diversify beyond airport lounge services and its focus on the global market after it discontinued airport lounge services in the country in September.
This acquisition is through cash consideration to be settled through AD Bank only (in tranches), for 50 shares at $80,000 USD per share for $4 million in ETT, which is a total consideration of Rs 36 crores, the stock filing stated. It is expected to be completed in 120 business days and is subject to procedural closing conditions, including the filing of the required overseas direct investment (ODI) documentation under the automatic route in accordance with the Foreign Exchange Management Act (FEMA), and registration of the share transfer and issuance of updated shareholding records by the Dubai Multi Commodities Centre (DMCC) Authority.
The acquisition will enhance DreamFolks’ global capabilities and, by integrating ETT’s international network and advanced technology stack — including API-led distribution, mobile solutions and white-label tools — DreamFolks has strengthened its digital delivery infrastructure, it said in a stock exchange filing. The addition of a strategic base in Dubai, a key global business hub, further positions the company to scale its presence across international markets, the filing added.
ETT has one of the widest airport ancillary networks worldwide, spanning 120 countries, over 500 airports and more than 1,200 service touchpoints. Its offerings include lounge access, fast track, meet and assist, buggy transfers, delay care and global eSIM services. With deep partnerships across online travel aggregators, global distribution systems, airlines, banks, fintechs, travel agencies and marketplaces, the company enables broad-based distribution of premium airport services to diverse customer segments.
“ETT brings with it a well-established international network and a robust technology-driven distribution platform,” said Liberatha Kallat, chairperson and managing director, DreamFolks Services, adding that ETT’s strengths strongly complemented its own capabilities and reinforced its long-term vision of building a global experience platform. “With their presence in Dubai and diversified distribution channels, we are significantly better positioned to deliver consistent, seamless and premium experiences to our enterprise partners and customers worldwide.”
Alexej Boiko, founder and CEO, ETT, said that having built a wide global network and a scalable technology-led distribution platform, DreamFolks’ leadership and market dominance offered the ideal environment to accelerate its next phase of growth. “By combining our European travel-tech heritage with DreamFolks’ operational scale, we are poised to offer a more connected and globally integrated travel experience.”
The deal also unlocks significant synergies. DreamFolks will leverage ETT’s established relationships with major industry players, which include partnerships with entities like Amadeus, Sabre and major carriers like Emirates and Turkish Airlines, to expand its inventory.
“Our mission has always been to bring the world of travel comfort forward through digital channels,” Oleksii Tkachenko, co-founder, ETT, said in a statement. “Joining forces with DreamFolks allows us to deploy our API-first solutions and unique products, like Delay Care, to a much wider audience. This partnership positions us to set a new standard for how airport services are distributed and consumed globally.”