RateGain Travel Technologies Limited (RateGain), a provider of SaaS solutions for travel and hospitality, said on Tuesday it has entered into a definitive agreement to acquire Adara (Adara) through an asset purchase agreement.
Founded in 2009 by Charles Mi in San Francisco, Adara operates in the data collection and management space and provides predictive intelligence for consumer engagement.
RateGain said with digital channels playing a ‘significant’ role in influencing travel decisions, it is critical for marketers and commercial teams to look at ways to capture intent accurately and target the right audience to increase the ROI on their marketing investments.
Adara uses artificial intelligence to combine global data consortiums with over 24 billion data elements across 130 countries spanning digital marketing, programmatic advertising, campaign measurement, and customer relationship management and retention.
Bhanu Chopra, chairman and founder, RateGain said Adara’s key differentiator is its access to permissioned travel-intent data from the world’s top travel and hospitality players and destination marketing organisations, and relying less on traditional methods of tracking consumer intent.
“Their focus on innovation and delivering customer excellence 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,” he added.
Mi, founder and chief executive officer of Adara said Chopra’s vision to build an end-to-end platform that can help organisations maximise revenue, aligns with what Adara believes in and the integration of RateGain and Adara will further this to create a unique value proposition that the industry needs, as more and more travelers adopt digital channels to research, plan and book travel.
Source: Economic Times