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Ebix India Buys Out Two Companies in Travel Space

3Aug By Gauri SinghNo Comments

ACQUISITION

Ebix India Buys Out Two Companies in Travel Space

The Indian subsidiary of Ebix Group has reportedly acquired two travel companies namely Mercury Travels and Leisure Corporation. According to the reports, the deal is worth $14.2 million. The acquisition has been made with an aim to create a separate division to focus on the niche travel market in India. Mercury Travels is a Mumbai-based company whereas Leisure Corporation is Delhi-based. "We are excited to be able to bring these two leading companies together, with the goal of creating a pioneering luxury travel initiative. Between this Mercury initiative and our existing Via.com travel initiative, EbixCash is now uniquely positioned as a financial exchange that has end-to-end travel solutions for all sections of the society,” said Robin Raina, Ebix CEO. A new travel division is bein...

Post Ebix-Via Acquisition, Via Executives Leave the Company

2Apr By Sheldan RungasamyNo Comments

News

Post Ebix-Via Acquisition, Via Executives Leave the Company

Via, the online travel platform that was recently acquired by US company Ebix at the end of October 2017 is reportedly seeing the successive departures of its senior leader members; notably, Chief Business Officer, Paroma Chatterjee and Chief Finance Officer, Sujit Neha according to anonymous sources close to the company. Ebix, acquired Via for $75 million and are now envisaging using is workforce to expand its core payments and remittance relating to travels with its insurance businesses. Ebix and the Bombay Stock Exchange recently agreed on a Memorandum of Understanding on establishing a jointly an insurance distribution network in India. According to anonymous sources, the departures of the two senior executive is directly related to Via change of power. Unlike its rivals MakeMyTr...

Ebix To Acquire Online Travel Platform Via.com

1Nov By AnkitaNo Comments

ACQUISITION

Ebix To Acquire Online Travel Platform Via.com

Ebix Inc, the parent company of ItzCash, has marked its fifth acquisition in India by acquiring Sequoia backed online travel portal Via.com, it said in a press statement. This acquisition marks U.S. based on demand software supplier Ebix's distribution network to over 224,000 outlets in South-east Asia, besides offering significant cross-selling opportunities for Ebix’s EbixCash (former ItzCash) Financial Exchange portfolio of products, the company said. Bengaluru based Via.com's enterprise value for the transactions was $74.9 million, which is expected to be carried out within few days. Via.com is a travel deals aggregator and ticket booking portal and sells holiday packages. Operated by Flightraja Travels Pvt. Ltd, it was founded back in 2007 by Vinay Gupta and Amit Aggarwal. ...

Paytm In Talks To Acquire Online Travel Company Via.com

19Sep By PriyankaNo Comments

ACQUISITION

Paytm In Talks To Acquire Online Travel Company Via.com

One97 Communications' Paytm is in discussions and likely to acquire online travel company Via.com as it doubles down on its travel and hospitality business. Paytm has held preliminary discussions although a term-sheet is yet to be signed, according to some people aware of the developments. The valuation of Via.com could could hit as high as $80 million for the sale, according to the source VCCircle. Bengaluru-based Via.com, backed by venture capital investors including IndoUS Venture Partners and Sequoia Capital, had earlier raised about $15 million in funding. The company was founded in 2007, formerly known as FlightRaja has 100,000 active travel partners across 2,600 towns and cities, and covers more than 13,000 pin codes across Asia. RELATED Paytm In Talks To Acq...