M&A M&A
RateGain acquires US-based consumer intelligence co Adara for $16-M
Source BSE Disclosure (opens in a new tab)Press Release (opens in a new tab)
Publicly listed, Noida-headquartered RateGain Travel Technologies Ltd, a SaaS solutions provider for travel and hospitality segment, is to acquire San Jose, CA (USA)-based Adara Inc for USD 16.1 million. Of the payout, USD 14.6 million is to be paid upfront and USD 1.5 million in one year.
Founded in 2009 by Charles Mi in San Francisco, Adara is a player in predictive consumer intelligence for the travel and hospitality industry. Its revenues for the 12 months ended September 2022 was INR 203.20 crore.
The acquisition is expected to strengthen RateGain's position across commercial teams in hotel chains, airlines and car rental companies which work with both Adara and RateGain.