Shares of Easy Trip Planners have now declined in six out of the last seven trading sessions.
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In a filing to stock exchanges, Easy Trip Planners said that it signed a share purchase agreement with Glegoo Innovations on January 24.
Glegoo Innovations is an Andhra Pradesh-based company that provides online travel and tours-related services. It was registered with the Registrar of Companies, Vijayawada, on April 10, 2019.
Easy Trip Planners said that Glegoo Innovations will add a new revenue vertical for the company and enable it to scale up the business for online tours and travel-related services.
The acquisition announcement comes just a day after the company rolled out its EaseMyTrip franchise programme to offer a retail store experience to customers.
The company said that it aimed to tap into a new set of offline customers and expand the reach of EaseMyTrip with the new franchise program.