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LONDON, UK / ACCESSWIRE / August 25, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for India's leading online travel agency, MakeMyTrip Ltd (NASDAQ: MMYT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MMYT. The Company announced on August 23, 2017, that it has entered into a definitive agreement with Travelport's (TVPT) distributor for India, InterGlobe Technology Quotient (ITQ), for the use of Travelport's Travel Commerce Platform. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Insights of the Agreement

MakeMyTrip can expand the use of Travelport's technology from the Ibibo Group to MakeMyTrip's other primary distribution channels starting in H2 2017. The Company owns and operates well recognized online brands including MakeMyTrip.com, goibio.com, and redbuds.in.

Travelport, working in conjunction with ITQ, will provide its travel content featuring real time access to approximately 400 airlines, including the merchandised content of over half of these carriers to MakeMyTrip. Travelport has pioneered the inclusion of Low Cost Carriers on its platform for shopping and booking.

Deal Gives Further Impetus to Travelport's Expansion Plans in India

Gordon Wilson, President and CEO of Travelport, stated that India has enormous growth potential where Travelport, working with its distributor ITQ, has grown in air booking terms by 14% in the first half of 2017 when the GDS air market has grown by 11%. Securing a partnership with the leading online travel agency in the market, with a high growth profile and tremendous track record, gives even further impetus to Travelport's plans in India.

Gordon further added that the agreement is a testament to the Company' investment in leading edge search, shopping, and booking technology alongside the significantly differentiated travel content now available on its platform for both the domestic and outbound Indian travelers.

Partnership Part of MakeMyTrip's Growth Strategy

Deep Kalra, Founder, Chairman, and Group CEO of MakeMyTrip, expressed his excitement to partner with Travelport and ITQ as part of the Company's growth strategy in the service of the traveling Indian consumer.

MakeMyTrip Acquired Ibibo Group in January 2017

On January 31, 2017, MakeMyTrip completed the merger of the ibiboGroup and acquired its 100% equity interest, resulting in the creation of one of the leading travel groups in India, providing a one stop shop for all Indian travelers. In consideration for the transaction, MakeMyTrip issued 38,971,539 Class B shares to the parent of ibibo Group (which is jointly owned by Naspers and Tencent).

About MakeMyTrip Limited

Founded in 2000, MakeMyTrip Limited is India's largest online travel company. The Company's comprehensive products and services allows customers to research, plan, and book a wide range of travel services and products in India as well as overseas. Headquartered in Gurugram, Haryana, the Company also operates through 65 retail stores across 50 cities in India, along with offices in New York City and Sydney.

About Travelport

Headquartered in Langley, United Kingdom, Travelport is a Travel Commerce Platform, focused on providing distribution, technology, payment, and other solutions to global travel and tourism industry. The Company is comprised of Travel Commerce Platform facilitating travel commerce by connecting the world's leading travel providers with online and offline travel buyers in a proprietary B2B travel marketplace. Travelport also comprises of Technology Services, through which it provides critical IT services to airlines.

About InterGlobe Technology Quotient

ITQ, a strategic business unit of InterGlobe Enterprises, is a leader in aviation, hospitality, and travel related services. ITQ is an official distributor of Travelport in six markets across Asia/Pacific region including India and Sri Lanka. ITQ is headquartered in Gurugram, Haryana, India.

Last Close Stock Review

MakeMyTrip's share price finished yesterday's trading session at $30.80, rising 3.10%. A total volume of 845.20 thousand shares have exchanged hands, which was higher than the 3-month average volume of 542.62 thousand shares. The Company's stock price skyrocketed 63.40% in the previous twelve months. Additionally, the stock soared 38.74% since the start of the year. The stock currently has a market cap of $2.84 billion.

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SOURCE: Pro-Trader Daily