RateGain to acquire Sojern, Strengthening AI-Led Capabilities in Hospitality Tech

RateGain Travel Technologies Limited, a global provider of AI-powered SaaS solutions for travel and hospitality, today announced, through its wholly owned subsidiary, RateGain Technologies Limited, UK, that it has entered into a definitive agreement to acquire Sojern Inc., a leading AI-led MarTech company focused on the hospitality sector. This acquisition underscores RateGain's AI-first strategy and strengthens its unified vision of building a platform that helps hotels to acquire guests, engage & retain them during their stay, and expand wallet share with them.

Founded in 2007 and headquartered in the USA, Sojern serves over 13,000+ hospitality and travel customers worldwide. The company has developed deep expertise in Martech with strong adoption across properties, destinations, attractions, and corporates. By combining Sojern's demand-generation capabilities with RateGain's existing distribution, analytics, and revenue optimization solutions, RateGain will be able to provide hospitality players with a broader set of complementary tools to compete in a complex, fast-changing travel environment. The addition of Sojern will also help RateGain expand its ability to serve both large hospitality clients and the fast-growing SMB hotel segment, enabling hotels of all sizes to access advanced AI-powered solutions. Customers can expect improved efficiency, and new opportunities to enhance guest experience.

In CY2024, Sojern generated $172.2 million in gross revenue. Under the terms of the agreement, the transaction is valued at $250 million. This will be funded by a mix of RateGain's internal cash reserves and debt.

Bhanu Chopra, Founder and Chairman, RateGain, said, "This acquisition is another important step in advancing RateGain's AI-first mission. Sojern's proven financial performance and expertise in MarTech complement our unified vision of embedding AI across every workflow in hospitality, from guest acquisition to retention and wallet share expansion. Just as important, both organizations share a culture of customer orientation, innovation and agility. Together, we can help hospitality businesses make smarter decisions, adapt faster to changing guest behaviors, and create seamless experiences throughout the guest journey, while building a thriving workplace for our teams."

Mark Rabe, Chief Executive Officer, Sojern, added, "Joining RateGain represents a natural next step for Sojern as it will allow us to continue executing on what we set out to do: Empower travel marketers to acquire and retain customers cost efficiently, at scale. We share not only a common vision of using AI and data to transform the travel ecosystem, but also a culture that values people and accountability. By combining our product, people and financial strengths, we plan to accelerate growth by delivering even greater value to our travel partners globally."

The transaction remains subject to customary closing conditions and regulatory approvals.

Shares of Rategain Travel Technologies Limited was last trading in BSE at Rs. 644.35 as compared to the previous close of Rs. 627.60. The total number of shares traded during the day was 129109 in over 4460 trades.

The stock hit an intraday high of Rs. 664.75 and intraday low of 631.35. The net turnover during the day was Rs. 83854671.00.

Source : Equity Bulls

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RateGainTravelTechnologies INE0CLI01024 RateGainTechnologies UK Acquisition SojernInc