Prosus to buy Latin American online travel agency Despegar.com for $1.7 billion

(Reuters) – Dutch technology investor Prosus (OTC:) NV said on Monday it would buy Latin America-focussed online travel agency Despegar (NYSE:).com Corp for about $1.7 billion in cash.

Prosus, majority-owned by South Africa’s Naspers, said it would pay $19.50 per Despegar share, which is a premium of about 33% to the stock’s closing price on Friday.

Despegar.com’s shares jumped about 32% in premarket trade.

Prosus said it plans to create synergies between Despegar, which operates in over 19 Latin American markets, and its other regional businesses such as food delivery platform iFood and events platform Sympla.

The deal is expected to close in the second quarter of 2025.