Yatra Online, which owns and operates travel ne, which owns and operates travel portal Yatra.com, has agreed to be acquired by Nasdaq-listed special purpose acquisition firm Terrapin 3 Acquisition Corp (TRTL) in a reverse merger deal, which has an enterprise value of $218 million.
Founded in 2006, Yatra competes with the likes of Nasdaq-listed MakeMyTrip.com, Naspers-backed Ibibo Group, Cleartrip.com and online hotel aggregator OYO.
It said customers had booked more than 2.8 million air travel reservations and hotel stays with total transaction value worth more than $900 million for the fiscal ending March 2016, up by a fourth from the previous financial year.
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