Wego, the MENA region’s online travel marketplace, has announced that it will acquire Cleartrip’s Middle East division in a deal that is anticipated to conclude in the second half of 2022.
This acquisition is the latest in a series of entrepreneurial achievements that have strengthened Dubai’s position as a worldwide hub for business, technology talent, and enterprises of all sizes, as per the announcement.
The agreement between the two Dubai Internet City-based companies builds on a long history of big collaborations in the commercial area, which has also served as the cradle of regional unicorns.
“Dubai’s business friendly environment, pragmatic policy making and status as the region’s hub for the technology and travel industries has played an important enabling role in Wego’s growth. It was also in Dubai that Wego and Cleartrip started doing business together and so in many ways Dubai has played the role of match-maker and venue for the marriage that we are announcing now,” said Ross Veitch, CEO & Co-Founder of Wego
Ammar Al Malik, Managing Director of Dubai Internet City, said, “Wego’s success story over the past years, and its acquisition of Cleartrip operations in the region to expand and enter new markets, enhances the emirate’s technology and innovation exports. At Dubai Internet City, we are committed to enabling our business partners to grow and thrive by providing a competitive business ecosystem, state-of-the-art infrastructure, and vibrant community with platforms to engage and explore opportunities while striving to support partners when attracting specialised tech professionals and entrepreneurs. We wish our partners at Wego and Cleartrip more success in expanding the customer base and providing new services in new markets from Dubai.”
The acquisition will help Wego to not only improve its operations to meet rising demand in the region by using Cleartrip’s strong digital infrastructure and resources, but also to provide a broader choice of services and products to customers.