Indian OTA Yatra.com will be listed on NASDAQ as part of a "business combination" with an investment firm which values Yatra at $218 million.
Terrapin 3 Acquisition Corporation, also listed on NASDAQ, is Yatra's new partner. It raised more than $200 million via an IPO in 2014, specifically to merge or acquire a business.
Macquarie Capital, an investment unit of Australian conglomerate Macquarie Group, is also involved in the deal via a $20m investment in Terrapin.
Yatra's existing shareholders - including Norwest Venture Partners, Vertex Ventures,IDG and Intel Capital - will own around one-third of the new business which will be run by the existing Yatra management team under chief executive and co-founder Dhruv Shringi.
The deal is being reported in the financial press either as a merger, a reverse merger or a straightforward acquistion.
The official statement said that "The transaction will provide capital and financial flexibility intended to further accelerate Yatra's growth.
Yatra has been around since 2006. During its year to end-March 2016 its customers booked more than 2.8 million air tickets and hotel stays with total transaction value in excess of $900 million at current exchange rates. This is a 25% hike on the previous year, with Yatra also noting that 74% of its business comes from repeat clients.
Terrapin3's chairman Nathan Leight talked about Yatra's existing growth figures and India's "urbanization and the rapid adoption of e-commerce and smartphone use by a population with increasing amounts of disposable income" as reasons behind the deal.
He also said that "the infrastructure required to compete in India as an online travel agent represents a significant barrier to market entry."
The move is this year's latest big deal in India's online travel market - Ibibo Group raised $250 million this February, following on from China's Ctrip buying a stake in India's other NASDAQ-listed OTA, MakeMyTrip.
Terrapin3 was set up specifically to invest in a business - public or private companies in any industry. Its decision to chose an Indian OTA out of all the world's potential M&A targets should be seen as a positive move, not only for India but also the wider online travel industry.
Related reading from Tnooz:
Cleartrip books into hotel IT sector (May 2016)
Ibibo Group lands massive $250 million round to extend travel bookings online (Feb 2016)
Ctrip invests $180 million in MakeMyTrip (Jan 2016)
Yatra brings in Travel-Logs for new urban tours brand (Jan 2016)