Ebix acquires Indian travel platform Yatra
After a long drawn out process spanning several months, Atlanta based software firm Ebix has finally sealed a definitive agreement to acquire Indian online travel company Yatra Online.
The merger puts an enterprise valuation on Nasdaq listed Yatra of USD 337.8 million.
The companies said in a joint statement it creates the most profitable travel services platform in India.
It adds to Ebix’ growing travel business portfolio which includes Via and Mercury Travel.
It is also Ebix’ largest deal in India.
Ebix is a global supplier of on-demand software and e-commerce products, and has a major presence in forex, overseas remittances and financial services.
It has also recently signed agreements to purchase Delhi-based Pearl International Tour & Travels and Lawson Travels & Tours in Mumbai.
"The acquisition of Yatra would lend itself to significant synergies and the emergence of EbixCash as the country’s largest and most profitable travel services company, besides being the largest enterprise financial exchange," said Ebix chairman Robin Raina.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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