RateGain Acquires Sojern for $250M to Boost Travel Tech Presence
RateGain Travel Technologies Ltd has announced a significant acquisition. The company is set to purchase US-based travel advertising and marketing solutions platform Expedia Inc. for a substantial $250 million in an all-cash deal. The transaction is expected to close within 45 to 90 days, pending regulatory approvals.
Expedia, established in 2007, operates globally with offices in the US, UK, Ireland, UAE, Singapore, France, and Mexico. The company's AI-powered platform specializes in demand generation, audience targeting, multichannel activation, and optimization. In 2024, Expedia reported total revenue of $172.2 million, marking a steady increase from $149.3 million in 2022 and $165.7 million in 2023.
The acquisition aligns with RateGain's broader strategy to strengthen its presence in the travel and hospitality tech stack. This marks RateGain's largest acquisition to date, surpassing its previous purchase of US-based Adara for $16 million in 2023. The deal is expected to be funded through increased investments in RateGain's UK arm and a corporate guarantee of up to $150 million for loans. The banks and financial institutions facilitating the credit facilities for this acquisition have not been publicly disclosed.
The acquisition of Expedia by RateGain is expected to deepen RateGain's presence in the travel and hospitality tech sector. Upon completion, the deal will see Expedia's AI-powered platform integrated into RateGain's offerings, potentially enhancing its capabilities in demand generation and audience targeting. The transaction is subject to antitrust and competition clearances.
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