Fighting off “once burnt, twice save”, OYO rooms is back in the game. Moving on from a fierce court battle with ZO rooms, the company is looking for some new acquisitions in the space with the backing of its deep-pocketed investors like SoftBank.
In a conversation with ET, Ritesh Agarwal, CEO of OYO, informed that for its prospective acquisitions the company is exploring various companies including hotel companies to IoT(internet of things) based technologies.
He also informed that OYO is looking at mature bootstrapped companies, regardless of their revenue, and is in talks with some such companies. Without revealing further details, Agarwal informed that the OYO’s corporate development team, headed by Maninder Gulati, Chief Strategy Officer, is leading these discussions.
Rationalising the choice of national or international acquisitions, Agarwal added, “Wherever we see someone who can add to our stack, and make OYO more valuable to our asset owners, or customers, we will be interested, in India or outside. We will definitely look at companies in international markets, but for the core capabilities they have created, and not just for market share.”
An email query sent to OYO didn’t elicit a response till the time of publication.