RateGain Travel Technologies soars on entering into definitive agreement to acquire Adara

RateGain Travel Technologies is currently trading at Rs. 299.85, up by 8.20 points or 2.81% from its previous closing of Rs. 291.65 on the BSE.

RateGain Travel Technologies
RateGain Travel Technologies

The scrip opened at Rs. 295.95 and has touched a high and low of Rs. 301.10 and Rs. 293.00 respectively. So far 7067 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 525.00 on 18-Jan-2022 and a 52 week low of Rs. 236.05 on 30-Jun-2022.

Last one week high and low of the scrip stood at Rs. 301.10 and Rs. 279.10 respectively. The current market cap of the company is Rs. 3157.44 crore.

The promoters holding in the company stood at 55.82%, while Institutions and Non-Institutions held 15.37% and 28.81% respectively.

RateGain Travel Technologies has entered into a definitive agreement to acquire Adara Inc. (Adara) through an asset purchase agreement. The Silicon Valley headquartered global leader in predictive consumer intelligence to enhance its AI-powered DaaS (Data as a Service) and Martech offerings to form the World’s most comprehensive travel-intent and data platform powered by AI. With digital channels playing a significant role in influencing travel decisions, it is critical for marketers and commercial teams to look at ways to capture intent accurately and target the right audience to increase ROI on their marketing investments.

The acquisition will also strengthen and consolidate RateGain’s position across commercial teams in leading hotel chains, airlines and car rental companies which work with both Adara and RateGain as well as give access to a niche segment of over 50+ Destination Marketing Organizations in the United States. 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 giving the industry a single source to understand intent, target them and convert them.

RateGain Travel Technologies is among the leading distribution technology companies globally and it the largest Software as a Service (SaaS) company in the hospitality and travel industry in India.

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