RateGain Travel to buy American travel data exchange platform Adara
RateGain Travel Technologies, an Indian travel and hospitality technology firm, will acquire Adara, a US-based data exchange platform, in an all-cash transaction valued at $16.1 million (INR 132.4 crores).
The asset purchase agreement is anticipated to establish a comprehensive artificial intelligence (AI) driven travel-intent and data platform that processes more than 200 billion availability, rates, and inventory (ARI) updates, manages nearly 30 billion data points, and works with 700 partners across 100 countries.
The transaction is expected to cement the presence of RateGain Travel Technologies across commercial teams in hotel chains, airlines, and car rental companies that work with both firms, apart from access to more than 50-plus destination marketing organizations in the US.
Bhanu Chopra — RateGain Travel Technologies Founder and Chairman said: “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 organizations and relying less on traditional methods of tracking consumer intent.
“Their focus on innovation and delivering customer excellence has me convinced that together we will help the industry with reliable end-to-end intent and real-time pricing insights making it simpler for them to identify guests, acquire and retain them.”
The acquisition will enable organizations to access comprehensive travel-intent, pricing and inventory data to achieve higher return on investment.
Charles Mi — Adara Founder and CEO said: “Bhanu’s vision to build an end-to-end platform that can help organizations maximize 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.”
Founded in 2009 by Charles Mi, Adara offers sourced customer data.
RateGain Travel Technologies, which is a SaaS solutions provider, processes electronic transactions, price points, and travel intent data for travel and hospitality industries. Recently, the Indian travel and hospitality software company, said that its fully-owned subsidiary – RateGain Technologies Limited, UK incorporated a Sharjah-based subsidiary RateGain Technologies LLC.