Prosus, led by Koos Bekker completes $1.7 billion acquisition of Despegar

Key Points

• Prosus completed its $1.7 billion acquisition of Despegar, gaining Latin America’s largest online travel agency to bolster its digital lifestyle platform in the region.
• The deal aligns with Prosus’s strategic focus on high-growth sectors like travel, food, fintech, and classifieds across Latin America, India, and Europe.
• Despegar brings strong profitability, processing over 9.5 million transactions annually and reporting $706 million in revenue and $116 million EBITDA in 2023.

Prosus N.V., the global consumer internet group led by South African billionaire Koos Bekker, has finalized its acquisition of Despegar, Latin America’s largest online travel agency, at a purchase price of $19.50 per share, to accelerate its lifestyle ecosystem strategy in the region.

The deal, first announced in Dec. 2024, follows approval from Despegar’s board, shareholders, and all relevant regulatory bodies, marking a strategic expansion of Prosus’s digital lifestyle ecosystem across Latin America. The transaction reinforces the group’s ambition to deepen its presence in high-growth markets through targeted acquisitions.

Despegar becomes part of Prosus portfolio

With the completion of the transaction, Despegar joins a portfolio that includes leading regional players like iFood in food delivery, OLX Brazil in classifieds, Sympla in events and experiences, and Prosus’s expanding fintech platform. Prosus intends to integrate Despegar’s travel platform with its broader ecosystem, enhancing customer convenience and unlocking new revenue streams.

“This acquisition accelerates our vision to build the most dynamic lifestyle e-commerce ecosystems across Latin America, India, and Europe,” said Fabricio Bloisi, CEO of Prosus Group. “By adding Latin America’s top travel platform to our portfolio, we are redefining lifestyle e-commerce by creating experiences that don’t just meet needs, but anticipate them.”

Despegar to drive innovation and growth under Prosus

Despegar, founded in Argentina in 1999, operates across 19 countries in Latin America and processes over 9.5 million transactions annually. In 2023, the company reported $5.3 billion in gross bookings, $706 million in revenue, and $116 million in EBITDA, underscoring its scale and profitability.

“With Prosus as our partner, we will benefit from scale and expertise in AI to accelerate growth and expand our service portfolio,” said Damián Scokin, CEO of Despegar. “We aim to set new standards in travel while contributing to building Prosus’s position as Latin America’s premier lifestyle ecosystem brand.”

Prosus continues strategic portfolio optimization

Founded in 1997 under the leadership of Koos Bekker, Prosus N.V. has grown into one of the world’s largest technology investors and a leading global consumer Internet group. A division of the South African multinational Naspers—also chaired by Bekker—Prosus holds a diversified international portfolio spanning fintech, ed-tech, e-commerce, food delivery, and social platforms. Bekker owns a 0.84 percent stake in the company, currently valued at $845.8 million. 

The acquisition complements Prosus’s recent strategic initiatives, including share buybacks and capital reallocation toward high-growth assets. The group, majority-owned by South African tech conglomerate Naspers, continues to enhance value through targeted expansion across food, fintech, travel, and digital classifieds.