RateGain, a global provider of SaaS solutions for the travel and hospitality industry, announced that it had signed a definitive agreement to acquire the data exchange platform Adara through an asset purchase agreement.
According to the official announcement, this acquisition would strengthen and reinforce RateGain’s position with commercial teams in hotel chains, airlines, and car rental firms, in addition to providing access to a specific market of more than 50+ destination marketing organisations in the US.
According to BSE filings, the deal’s amount is expected to be around Rs 134 crore.
“Adara’s key differentiator is its access to permissioned travel-intent data from the world’s top travel and hospitality players as well as destination marketing organisations, and relying less on traditional methods of tracking consumer intent,” said Bhanu Chopra, Chairman and Founder, RateGain.
Adara, which Charles Mi founded in San Francisco in2009, is now a partner in data collection and management for blue-chip companies in the travel and hospitality industries by offering predictive intelligence for the best consumer engagement.
To power digital marketing, programmatic advertising, campaign measurement, CRM, and retention, the company uses AI to combine the strength of global data consortiums with more than 24 billion data elements across 130 countries. The company also helps its customers build better connections to increase consumer engagement and profitability.
“Bhanu’s vision to build an end-to-end platform that can help organisations maximise revenue aligns with what Adara believes in, and the integration of RateGain and Adara will further this to create a unique value proposition that the industry needs as more and more travelers adopt digital channels to research, plan, and book travel,” said Charles Mi, Founder and Chief Executive Officer, Adara.
Together, Adara and RateGain will develop the most comprehensive travel platform, handling close to 30 billion data points, processing over 200 billion ARI updates, and collaborating with 700+ partners in over 100+ countries.
In more than 100 countries, RateGain works with 2,800+ customers and 700+ partners to increase revenue generation through acquisition, retention, and wallet share expansion.
Following its late 2021 listing on stock exchanges, the company, which counts Nomura India Investment, Kuwait Investment Authority, Goldman Sachs Funds, Avataar Holdings, and TA Associates among its investors, raised nearly Rs 600 crore.
