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The Canadian Busbud has successfully acquired Clickbus Turkey, a leading online booking platform for bus travels in Turkey
The Canadian company Busbud has successfully acquired a leading Turkish bus ticket booking platform Neredennereye.com, headquartered in Istanbul, which is owned and operated by Clickbus Turkey. Busbud is the largest online global marketplace for booking city-to-city bus tickets in the world. By acquiring Clickbus Turkey and therefore Neredennereye.com, the Canadian company can expand its route coverage in Turkey and strengthen its footprint in the fast-growing and vital Turkish intercity bus market. Neredennereye.com was founded in 1999 as an online travel directory and has become a local leader with more than 30,000 routes in Turkey. Clickbus Turkey was originally founded in 2014 and merged with Neredennereye.com in August 2015. Key investors of the company are Rocket Internet, Ooredoo, Holtzbrinck Ventures and Tengelmann Ventures.
In their press release, LP Maurice, CEO and co-founder of Busbud commented on the acquisition: "Erol and his team at Neredennereye.com have had a remarkable growth story in Turkey. We are excited to welcome them on board. There is a lot to learn from how they have achieved a dominant position in this large and dynamic market. These insights and go-to-market strategies will inform our continued rollout in the 80+ countries we currently serve.”
Erol Demirtas, CEO and founder of Neredennereye.com states: "Becoming a part of Busbud, a leading player in the intercity bus booking market worldwide, gives us an opportunity to benefit from a global platform and additional resources, which will help us to provide an even more impactful experiences to our customers.”
IEG – Investment Banking Group, under the leadership of Serkan Usanmaz, Managing Director at IEG – Turkey, has acted as financial advisor to the shareholders of Clickbus Turkey / Neredennereye.
“[IEG has] been a strong partner and played a crucial role throughout the entire deal. There were some more complex aspects to this international transaction, and IEG got us to a great result in the end”, states Erol Demirtas about the role of IEG.
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