Despegar Completes Acquisition Of 100% Of Brazilian Online Travel Agency Viajanet

Despegar.com, Corp. (NYSE: DESP) (“Despegar”), the leading online travel company in Latin America, today announced that it has completed the previously announced (May 6, 2022 - link) acquisition of 100% of TVLX Viagens e Turismo S.A (“Viajanet”), one of Brazil’s leading online travel agencies, for a total consideration of approximately US$15.5 million, which will be subject to customary post-closing adjustments. Seventeen percent of total consideration was paid following the consummation of the transaction, 43% is expected to be paid in July 2022, 20% in June 2024 and the remaining 20% in June 2025, subject to any post-closing indemnification adjustments.