Yatra, an India-based travel firm backed by chip maker Intel’s corporate venturing unit, is reportedly about to acquire Travelguru from US-based peer Travelocity Global.
Travelocity had acquired Travelguru, which has a portfolio of 6,500 hotels in India and 72,000 hotels worldwide, in 2009 after the latter’s venture capital backing from Sequoia Capital and Battery Ventures.
News provider Hindu Business Line said the Travelguru deal would be Yatra’s fourth acquisition in nearly two years after buying Travel Services International, MagicRooms and Buzzintown.
Intel Capital had first backed Yatra and Buzzintown in 2008.
In April last year Yatra.com raised a further R200 crore ($45m) from Intel Capital, as well as venture firms Valiant Capital and Norwest Venture Partners, by selling a reported 26% stake. Before that Yatra had previously raised R150 crore. Other investors have included Reliance Venture and TV18 Group.