Adara 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, helping its customers create better connections to drive more consumer engagement and profitability. Adara has a global presence with customers across geographies - US, Europe, Middle East and Asia. Adara's revenue from operations stood at $27.4 million (about Rs 204.4 crore) in FY 2021-22.

The transaction does not involve any share acquisition. The asset purchase transaction will be carried out for cash consideration of $16.1 million (about Rs 132.4 crore). This includes upfront $14.6 million (about Rs 120.1 crore) and deferred $1.5 million (about Rs 12.4 crore) to be paid on or prior to 31 December 2023.

The acquisition is aligned to RateGain's vision of building an integrated Revmax platform – focused on customer acquisition and wallet share expansion. It will help build one of the largest & most comprehensive source of travel intent data in the world that is permissioned and ethically sourced, impacting every step of the traveler's journey. It would also deepen access to marketing & commercial leaderships in large enterprises including expansion into adjacent travel segments like Destination Management Organizations (DMOs) and large airlines.

The acquisition will also strengthen and consolidate RateGain's position across commercial teams in leading hotel chains, airlines and car rental companies which work with both Adara and RateGain as well as give access to a niche segment of over 50+ Destination Marketing Organizations in the United States.

Together 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 700+ partners across 100+ countries giving the industry a single source to understand intent, target them and convert them.

Bhanu Chopra, chairman and founder, RateGain said, "We are delighted to welcome the Adara team to the RateGain family. 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 organizations 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."

RateGain Travel Technologies is a global provider of SaaS solutions for travel and hospitality that works with 2800+ customers and 700+ partners in 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion. The company is one of the world's largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises and ferries drive better outcomes for their business.

The company reported a consolidated net profit of Rs 19.57 crore in Q2 FY23 as against a net loss of Rs 3.69 crore in Q2 FY22. Revenue rose by 47% YoY to Rs 124.61 crore during the quarter.

Shares of RateGain Travel Technologies rose 2.48% to Rs 291.65 on Monday, 2 January 2023.