RateGain Travel Technologies, a global provider of SaaS solutions for the travel and hospitality industry, has announced that it has entered into a definitive agreement to acquire Adara through an asset purchase agreement. Based in Silicon Valley, Adara is a global leader in predictive consumer intelligence and this acquisition will allow RateGain to enhance its AI-powered DaaS (Data as a Service) and Martech offerings, creating the world’s most comprehensive travel-intent and data platform powered by AI.
In the digital age, where online channels have a significant impact on travel decisions, it is essential for marketers and commercial teams to accurately capture consumer intent and target the right audience in order to maximize the return on their marketing investments.
Adara, founded in San Francisco in 2009 by Charles Mi, is a trusted partner for data collection and management in the travel and hospitality industries. By providing predictive intelligence for optimal consumer engagement, Adara helps blue-chip enterprises succeed in the fast-paced digital economy.
Adara, the global leader in permissioned and ethical data collection, uses artificial intelligence to combine the power of global data consortiums, featuring over 24+ billion data elements from 130 countries, to enhance digital marketing, programmatic advertising, campaign measurement, and CRM and retention for its customers. By creating better connections, Adara helps its clients increase consumer engagement and profitability.
Bhanu Chopra, Chairman and Founder of RateGain, commented on the acquisition, saying: ‘We are thrilled to have the Adara team join the RateGain family. Adara’s unique advantage is its access to permissioned travel-intent data from top players in the travel and hospitality industry, as well as destination marketing organizations, rather than relying on traditional methods of tracking consumer intent. Their commitment to innovation and customer excellence makes me confident that, together, we will provide the industry with reliable end-to-end intent and real-time pricing insights, making it easier for them to identify, acquire, and retain guests.’
Charles Mi, Founder and CEO of Adara, commented on the acquisition, saying: ‘We are thrilled to be joining the global RateGain family. Bhanu’s vision to build a comprehensive platform to help organizations maximize revenue aligns with Adara’s beliefs, and the integration of RateGain and Adara will create a unique value proposition that the industry needs as more travelers turn to digital channels for research, planning, and booking travel. I am excited for what the future holds and cannot wait to take the Adara story to new heights with RateGain.’
The industry currently requires a platform like this to adapt to changing guest expectations.
Acquiring guests is becoming more expensive as both traditional and digital advertising mediums become more competitive in capturing the attention of travelers, who are increasingly turning to digital channels for inspiration, research, booking, and engagement.
As travelers seek more unique experiences and face rising costs, they are looking to try different brands that can provide them with personalized experiences and offers. However, brands currently have limited visibility into the preferences of their customers.
This acquisition will also bolster and consolidate RateGain’s position among commercial teams at leading hotel chains, airlines, and car rental companies that work with both Adara and RateGain. It will also provide access to a niche segment of over 50 Destination Marketing Organizations in the United States.
Together, Adara and RateGain will form the most comprehensive travel-intent platform, processing over 200 billion ARI updates, managing close to 30 billion data points, and working with 700+ partners across 100+ countries. This will provide the industry with a single source for understanding, targeting, and converting consumer intent.
Shares of RateGain Travel Technologies were trading on the BSE at INR 291.65, compared to the previous close of INR 284.60. The total number of shares traded during the day was 7,648, with over 323 trades.
The stock reached an intraday high of INR 293.05 and an intraday low of INR 284.00. The net turnover for the day was INR 22,201,370.
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