Global provider of SaaS solutions for travel and hospitality RateGain on Tuesday announced that it has entered into a definitive agreement to acquire data exchange platform Adara through an asset purchase agreement.
As per the official release, this acquisition will strengthen and consolidate RateGain’s position across commercial teams in hotel chains, airlines, and car rental companies as well as give access to a niche segment of over 50+ destination marketing organizations in the US.
The deal amount is said to be around Rs 134 crore, as per BSE filings.
“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.
Founded in 2009 by Charles Mi in San Francisco, Adara today is a partner in data collection and management for helping blue-chip enterprises in travel and hospitality by providing predictive intelligence for optimal consumer engagement.
The company uses AI to combine the power of global data consortiums with over 24+ billion data elements across 130 countries, powering digital marketing, programmatic advertising, campaign measurement, and CRM and retention, and helping its customers create better connections to drive more 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 become the most comprehensive travel-intent platform that processes over 200 billion ARI updates, manages close to 30 billion data points, and works with 700+ partners across 100+ countries.
RateGain works with 2,800+ customers and 700+ partners in 100+ countries, helping them accelerate revenue generation through acquisition, retention, and wallet share expansion.
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 after listing on stock exchanges in late 2021.
Edited by Teja Lele