DreamFolks Services Acquires 60.24% Stake in Easy to Travel, Dubai
Strategic Acquisition to Enhance Global Presence
DreamFolks Services, based in Gurugram, has announced its acquisition of a 60.24% stake in Easy to Travel (ETT), a Dubai-based airport services distribution platform. This strategic move aligns with DreamFolks’ ongoing efforts to diversify beyond airport lounge services, particularly in the context of its decision to discontinue such services within India in September.
The acquisition involves a total cash consideration settled exclusively through AD Bank. DreamFolks will purchase 50 shares at $80,000 USD each, resulting in an overall investment of $4 million in ETT, equivalent to ₹36 crores. Completion of this deal is anticipated within 120 business days, pending procedural closing requirements. This includes filing necessary overseas direct investment (ODI) documentation under the Foreign Exchange Management Act (FEMA) and registering share transfers with the Dubai Multi Commodities Centre (DMCC) Authority.
Strengthening Digital Infrastructure
The integration of ETT will significantly bolster DreamFolks’ global capabilities. The acquisition aims to enhance its digital delivery infrastructure by leveraging ETT’s robust technology stack, which includes API-led distribution, mobile solutions, and white-label tools. Establishing a strategic base in Dubai—a prominent global business hub—positions DreamFolks advantageously for further expansion into international markets.
ETT is noted for having one of the most extensive airport ancillary networks across 120 countries, with services available in over 500 airports and more than 1,200 service touchpoints. The platform provides a range of offerings, including lounge access, fast-track services, meet and assist programs, buggy transfers, delay care, and global eSIM services. This extensive network allows ETT to tap into a diverse customer base, facilitated by deep collaborations with online travel aggregators, global distribution systems, airlines, banks, fintech companies, and travel marketplaces.
Strategic Synergies and Opportunities
Liberatha Kallat, Chairperson and Managing Director of DreamFolks Services, emphasized the value ETT brings to the table: “ETT brings with it a well-established international network and a robust technology-driven distribution platform.” Kallat noted that ETT’s strengths align seamlessly with DreamFolks’ vision of constructing a global experience platform, enhancing its ability to deliver premium experiences to enterprise partners and customers worldwide.
Alexej Boiko, founder and CEO of ETT, highlighted the advantages of merging with DreamFolks. He stated, “Having built a wide global network and a scalable technology-led distribution platform, DreamFolks’ leadership offers the ideal environment to accelerate our next phase of growth.” Boiko believes that combining their European travel-tech heritage with DreamFolks’ operational scale will deliver a more integrated travel experience.
Exploring New Horizons in Travel Tech
DreamFolks plans to leverage ETT’s established relationships with key industry players. These partnerships include collaborations with major entities such as Amadeus, Sabre, and leading airlines like Emirates and Turkish Airlines. This strategic move aims to broaden DreamFolks’ inventory and reinforce its presence in the travel sector, creating further opportunities for growth.
Oleksii Tkachenko, co-founder of ETT, remarked on the partnership, stating, “Our mission has always been to bring the world of travel comfort forward through digital channels.” Tkachenko expressed enthusiasm about how this collaboration would enable the deployment of API-first solutions and unique products like Delay Care to a wider audience. He emphasized that this partnership is positioned to set new standards for airport services distribution and consumption on a global scale.
Expanding Market Reach
The acquisition not only opens doors for DreamFolks in terms of technological advancements but also enhances its market reach. The airline and travel sectors are increasingly centered on providing seamless customer experiences, and DreamFolks is now better equipped to meet these demands. With ETT’s established market presence and technological assets, DreamFolks aims to create a more customer-centric approach to airport services.
The implications of this acquisition are far-reaching. By bringing together strong operational methodologies and technological innovations, the partnership seeks to capitalize on growing trends in travel technology. As the landscape continues to evolve, DreamFolks is poised to remain at the forefront of these advancements, setting a course for sustained growth in the competitive travel sector.
Through the acquisition of Easy to Travel, DreamFolks is not only broadening its service offerings but also reinforcing its commitment to delivering exceptional experiences worldwide. The integration of ETT’s capabilities and network represents a pivotal step in DreamFolks’ journey toward becoming a dominant player in the global travel and lifestyle experiences market.
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