The acquisition will help create an AI-powered travel-intent and data platform, which is anticipated to manage nearly 30 billion data points, process more than 200 billion ARI updates, and work with over 700 partners across 100-plus countries
Travel data exchange platform Adara to be acquired by RateGain Travel Technologies. (Credit: Gerd Altmann from Pixabay)
India-based software as a service (SaaS) provider RateGain Travel Technologies has agreed to acquire Adara, a US-based travel data exchange platform, for $16.1m.
Through the acquisition, RateGain Travel Technologies is expected to develop an extensive artificial intelligence (AI)-powered travel-intent and data platform.
With its travel data exchange platform, Adara offers access to ethically sourced customer data.
The Silicon Valley-headquartered firm also assists blue-chip travel and hospitality companies by delivering predictive intelligence for optimal customer engagement.
By utilising AI, Adara combines the resources of international data consortiums with more than 24 billion data elements across 130 countries to facilitate digital marketing, campaign measurement, programmatic advertising, customer relationship management (CRM), and retention.
RateGain Travel Technologies chairman and founder Bhanu Chopra said: “Adara’s key differentiator is its access to permissioned travel-intent data from the world’s top travel and hospitality players as well as destination marketing organisations and relying less on traditional methods of tracking consumer intent.
“Their focus on innovation and delivering customer excellence has me convinced that together we will help the industry with reliable end-to-end intent and real-time pricing insights making it simpler for them to identify guests, acquire and retain them.”
According to RateGain Travel Technologies, the acquisition will help in bolstering its position across commercial teams in airlines, hotel chains, and car rental firms.
Furthermore, the company is expected to gain access to a niche segment of more than 50 destination marketing organisations in the US.
The travel-intent platform to be created following the acquisition is anticipated to manage nearly 30 billion data points, process more than 200 billion availability, rates, and inventory (ARI) updates, and work with over 700 partners across 100 plus countries.
Adara founder and CEO Charles Mi said: “We are thrilled to be a part of the global RateGain family.
“Bhanu’s vision to build an end-to-end platform that can help organizations maximize revenue, aligns with what Adara believes in and the integration of RateGain and Adara will further this to create a unique value proposition that the industry needs, as more and more travellers adopt digital channels to research, plan and book travel.”
Established in 2004, RateGain Travel Technologies is a processor of electronic transactions, price points, and travel intent data.
It offers services to revenue management, distribution, and marketing teams across airlines, hotels, package providers, car rentals, meta-search companies, travel management companies, ferries, and cruises.
The deal is expected to close within a month from the date of execution of the asset purchase agreement.