Rategain Travel Technologies Limited has informed the Exchange about Investor Presentation
RATEGAIN · price
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RateGain Travel Technologies has announced a definitive agreement to acquire 100% of Sojern, a US-based AI-powered hospitality and travel marketing platform, for a total consideration of $250 million (1.5x Sojern's CY24 gross revenue of $172 million). The upfront payment of $250 million will be funded through $125 million in balance sheet cash (including QIP proceeds) and $125 million in USD-denominated SOFR-linked term loan debt, with additional performance and time-linked deferred payouts (cash and stock) over 3 years post-closing. Sojern brings 13,000+ customers, 366 employees, and capabilities in AI-led direct demand generation, with ~85% of revenue from the US and Europe. Post-acquisition, the combined entity is projected to have $310M+ revenue and $50M+ EBITDA, strengthening RateGain's UNO RevMax platform with expanded US hotel customer access and cross-sell opportunities.
This is a significant, debt-funded acquisition that could boost RateGain's scale and AI capabilities in hospitality marketing, but adds $125M in debt and brings near-term margin dilution given Sojern's lower 12% EBITDA margin versus RateGain's 22%. Shareholders should watch integration progress and synergy realization over the next 2-3 years.