Society Pass Acquires Nusatrip from Moratelindo Shareholder

Summary

Southeast Asia e-commerce and loyalty ecosystem company Society Pass Inc (SOPA) acquired online travel agency NusaTrip, Indonesia's online travel agency (OTA). The acquisition will expand Society Pass's business reach into the fast-growing regional travel industry and marks the Society's first step in Indonesia, complementing the growing SoPa ecosystem and embracing technology companies in Vietnam, Indonesia, Philippines, Singapore, and Thailand. Society Pass is based in Singapore and is listed on the Nasdaq stock exchange.

Founded in 2013, Nusatrip is an OTA that serves various airlines and hotels for corporate and retail customers in Indonesia. Nusatrip claims to have a consumer base of more than 1.2 million users, 500 airlines, and 200,000 hotels worldwide, which connects with more than 80 million unique visitors on its website.

"We combined the latest technology and operational efficiency of the NusaTrip e-commerce travel platform with our experience building a brand. With this acquisition, SoPa now integrates six verticals [loyalty, lifestyle, food and beverage, telecommunications, digital media, and travel] into one platform. Loyalty and cohesive e-commerce to provide better product and service offerings for consumers and merchants in key markets in Southeast Asia," Dennis Nguyen, Founder, Chairman, and CEO of Society Pass, said in a statement Monday, August 15.

Citing its official website, Nusatrip is currently owned by the GLB Group (Gema Lintas Benua). GLB's business units operate in various industries such as telecommunications, energy, e-commerce, engineering procurement & construction (EPC), and property. Currently, GLB is listed as a shareholder of the telecommunications company and internet service provider PT Mora Telematika Indonesia Tbk (MORA) or Moratelindo, with ownership of 30.17 percent. Another MORA shareholder is the Sinar Mas Group through PT Smart Telecom Tbk (FREN).

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