In a bid to strengthen its accommodation business eDreams has entered into an asset purchase agreement with RoamAmore Inc, operators of Waylo.
The purchase provides eDreams ODIGEO with Waylo’s artificial intelligence (AI)-driven technology, which will allow the company to grow its dynamic packages by offering additional content from thousands of hotels worldwide.
The closing of the transaction is expected to take place by the fourth quarter of eDream ODIGEO’s financial year of 2020.
Dana Dunne, chief executive officer, eDreams ODIGEO, said: “We are constantly seeking and harnessing the latest technology to deliver more options, greater value and better service for our 18 million customers worldwide, while also growing every aspect of our company. We have a business that generates a strong free cash flow, allowing us to pursue strategic growth opportunities that deliver value to our company, customers and shareholders.
“With this acquisition, we are thrilled to be further strengthening our hotel and dynamic package products, which are central to our product and revenue diversification strategy that is successfully building an attractive, diversified and sustainable business.”
Angik Sarkar, chief executive and founder of Waylo, said: “We are excited to join one of the world’s largest online travel companies. We share a common goal to enable unique travel experiences through technology, and we are looking forward to contributing to this for the benefit of millions of travellers worldwide.”