Prosus to acquire Argentina’s Despegar in USD 1.7bn deal

By Velizar Velikov, Head of M&A Database at EMIS

Amsterdam-based technology investor Prosus NV has agreed to acquire Despegar, a leading Latin American online travel company, at an enterprise value of USD 1.7bn, the companies announced. 

The acquisition, expected to close in the second quarter of 2025, values Despegar’s equity at USD 1.6bn, with Prosus offering a 33% premium to the stock’s closing price prior to the announcement.  Under this agreement, a wholly-owned subsidiary of Prosus will merge with Despegar, with Despegar continuing as the surviving entity

Prosus said the acquisition aligns with its strategy to build a high-quality ecosystem of complementary businesses, expanding its presence in Latin America. The company aims to leverage its operational expertise and AI capabilities to accelerate Despegar’s growth, tapping into its broad customer base across e-commerce, travel, and fintech. 

Despegar, which operates under the Despegar and Decolar brands, is one of Latin America’s largest online travel companies, offering airline tickets, hotels, vacation packages, and travel-related services. The firm operates in 19 countries, facilitating over 9.5 million transactions annually. In 2023, Despegar reported USD 706mn in revenue and USD 116mn in EBITDA. 

Prosus, a consumer internet giant, has investments spanning online classifieds, food delivery, fintech, and education technology. The company sees significant synergies in integrating Despegar into its Latin American portfolio, enhancing its reach to over 100 million consumers. 

The acquisition is a major bet on Latin America’s travel sector, as Prosus seeks to capitalize on rising digital adoption and increasing demand for online travel services across the region.

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