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Yatra.com terminates $337 Million merger pact with Ebix

8Jun By NitishNo Comments

BUSINESS

Yatra.com terminates $337 Million merger pact with Ebix

Online travel company Yatra Online said it is terminating pending merger agreement with the US-based software firm Ebix Inc and has filed litigation seeking substantial damages from Ebix over breaches of the agreement. Ebix Inc had signed an agreement to acquire Yatra Online Inc, the parent company of online travel firm Yatra.com, for an enterprise value of USD 337.8 million (over Rs 2,300 crore) in 2019. The company, "has provided notice of termination of its pending merger agreement with Ebix Inc and filed litigation in the Court of Chancery of the State of Delaware over Ebix's breaches of the merger agreement," Yatra Online Inc said in a statement. Yatra Online Inc seeks to hold Ebix accountable for breaches of its representations, warranties and covenants in the merger agreem...

Yatra Revenue Increased by 40.8%, INR 3,360.4 Million in FY17

Yatra, India's leading online travel company, today announced its unaudited financial and operating results for three months ended December 31, 2017. As per the results, yatra delivered good quarter of results with revenue less service cost growth at 45.6% year-over-year. Our multi-channel approach and the resultant symbiotic relationship between our corporate and consumer direct businesses continues to deliver well for us. We have taken great strides on our technology platform for both our retail and corporate customers. This is an exciting time for Yatra, as we believe the combination of strong economic growth and consumer demand at the macro level and our own unique approach at the company level will help us maintain a strong growth rate over the longer term. Dhruv Shringi, Co-fo...

TripAdvisor To Mark Hotels On Website Where Sexual or Any Violent Incident Took Place

[dropcap]T[/dropcap]ripAdvisor will now mark the hotels where cases of violent incident like sexual assault or rape have been reported, informing the users before they book. The travel review and booking site earlier hit the news for removing a review about Iberosar Paraiso Maya, which described a rape done by security guard at a Mexican Resort. TripAdvisor issued a public apology saying they deleted it because of the unfriendly language that was used in the review. "We apologize to the sexual assault victim reported on in the article, who had her forum post removed seven years ago on TripAdvisor. At the time, we had a policy whereby we judged content to be in breach of our guidelines if it did not adhere to family-friendly language," the post said. The controversy raised ques...