The iFood controller plans to create synergies with its other regional businesses, such as the events platform Sympla.

Dutch technology investor Prosus NV said on Monday it will buy Latin America-focused online travel agency Despegar.com Corp for about $1.7 billion in cash, in a bid to expand its services across the region.

Prosus, majority-owned by South Africa's Naspers, said it would pay $19.50 per share for Despegar, a premium of about 33% to the stock's closing price on Friday.

Despegar.com shares rose by nearly 32% after the market opened.

Prosus said it plans to create synergies between Despegar, which operates in more than 19 Latin American markets, and its other regional businesses, such as food delivery platform iFood and events platform Sympla.

E-commerce is one of Amsterdam-listed Prosus’s main investment areas. Its portfolio includes food delivery company Delivery Hero, online marketplaces such as OLX, educational software companies such as SkillSoft and Stack Overflow, and payments companies such as India-focused PayU.

Founded in Argentina in 1999, Despegar is one of the largest online travel platforms in Latin America and has been affected by high local inflation and currency depreciation against the US dollar in key markets such as Brazil and Mexico.

The deal is expected to close in the second quarter of 2025.