Travel Aggregator EaseMyTrip Set To Buy 49% Shares Of Planet Education Australia With INR 39.2 Cr

Neha KamathNovember 16, 2024

Post Views: 5

Three points you will get to know in this article:

The deal will complete through an equity share swap worth INR 39.20 crore.
The acquisition would enable them to expand into the international study tourism industry.
Board also approved the acquisition of a 50% stake in Jeewani Hospitality Private Limited for INR 100 Cr.

Easemytrip Expands into Foreign Studies Space With Planet Education Australia

Easemytrip, an online travel aggregator (OTA), has announced that it will acquire a 49% stake in Australia-based study abroad consultancy services provider Planet Education Australia through an equity share swap worth INR 39.20 crore.

Planet Education, founded in 1999, provides guidance, university placements, and visa support to students wanting to further their education abroad. The organization has partnerships with approximately 350 universities in Australia, the United States, the United Kingdom, Canada, Singapore, Ireland, and New Zealand.

The business stated in an exchange filing that it will acquire a stake in Planet Education by purchasing shares from its existing owners and issuing fully paid-up equity shares of EaseMyTrip.

How Will Acquisition of Planet Education Australia Help EaseMyTrip?

EaseMyTrip stated that the acquisition will help it to expand into the international study tourism area. It intends to draw on Planet Education’s 25-year experience in the international education sector.

“Our acquisition in Planet Education is a strategic step to enter the burgeoning international study tourism, allowing us to offer a seamless, end-to-end experience that integrates both education and travel services for our customers,” Nishant Pitti, the CEO and co-founder of EaseMyTrip

Other Acquisitions by EaseMyTrip in Recent Times

Aside from its entry into the study abroad sector, EaseMyTrip stated in the exchange filing that its board of directors approved the acquisition of a 50% stake in Jeewani Hospitality Private Limited for INR 100 crore through a share swap.

The acquisition is part of EaseMyTrip’s strategy to enter the hospitality industry. Earlier this year, the company announced a partnership with the Jeewani Group to build a new five-star hotel in Ayodhya with a budget of up to INR 100 crore.

In September of this year, EaseMyTrip said that its board had approved plans to acquire a 30% share in Rollins International for INR 60 crore and a 49% stake in Pflege Home Healthcare Center LLC for INR 30 crore as part of its medical tourism strategy.