 "Merger and acquisition")
RateGain Travel Technologies Ltd has announced it is acquiring Adara, a leader in data collection and management in the travel and hospitality space, for $16 million (about Rs 132.4 crore).
The acquisition will help companies access the most-comprehensive travel-intent, pricing and inventory data to achieve higher return on investment (ROI).
"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," said Bhanu Chopra, Chairman and Founder, RateGain.
Founded in 2009 by Charles Mi in San Francisco, Adara provides predictive intelligence for optimal consumer engagement.
It uses artificial intelligence to combine the power of global data consortiums with over 24 billion data elements across 130 countries powering digital marketing, programmatic advertising, campaign measurement, and CRM and retention.
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"I am excited for what the future holds and cannot wait to scale the Adara story to new heights with RateGain," said Charles Mi, Founder and CEO, Adara.
Adara and RateGain will become the most comprehensive travel-intent platform that processes over 200 billion ARI updates, manages close to 30 billion data points and works with more than 700 partners across over 100 countries.
Founded in 2004 and headquartered in India, RateGain is one of the world's largest processors of electronic transactions, price points, and travel intent data.
--IANS
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