Oyo acquires Direct Booker, an online ticketing provider, to expand its footprint in Europe.
On Monday, travel and hospitality technology platform Oyo announced the completion of its acquisition of Europe-based startup 'Direct Booker,' with the transaction valued at approximately USD5.5 million (over Rs 40 crore). According to Oyo, Direct Booker has over 3,200 households and has served over 20 lakh consumers.
This acquisition will increase Oyo's footprint in Europe in general, and in Croatia in particular, where it already has roughly 1,800 vacation homes on its Belvilla platform and over 7,000 houses on its Traum Ferienwohnungen platform, according to the company.
The inventory of Direct Booker will be available on Belvilla.com (Belvilla by Oyo) and over time on its other platforms, the company said.
Commenting on the acquisition, Oyo Global Chief Business Officer, Ankit Tandon said, homes continue to be an important strategic segment for Oyo and its cutting edge technology, distribution systems and data sciences will add more value to Direct Booker's current 3,200 homes and enhance collective growth in Europe.
"We continue to focus on going deep in Europe and delivering the best Vacation Home experiences to our customers," added Tandon, who led the acquisition.
Oyo had in the recent past declared its intent of actively scouting for 'tuck-in' acquisitions, especially in the European market as a strategic growth lever. It already has a strong footprint in the Netherlands, Denmark, Belgium, Germany and Austria.
Direct Booker CEO & cofounder Nino Dubretic said, "We strongly believe that by merging our technologies and expertise, this partnership will positively impact the Croatian tourism economy, further driving demand through Oyo's existing platforms spread across Europe."
Being a part of Oyo's network will also increase visibility for the homes listed on Direct Booker platform, especially across Scandinavian, Benelux and surrounding countries, Dubretic added.
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