Ebix acquires Yatra for above Rs two,300 crore – The Tribune India
Mumbai, July 17
The US-primarily based NRI-run Ebix Group today introduced acquisition of the Nasdaq-outlined domesitc travel portal Yatra for an company valuation of $337.eight million (above Rs two,300 crore) by way of a merger, generating the country’s largest travel providers platform.
Both of those the organizations have signed a definitive arrangement for the merger, they stated in a joint statement, which stated the merger will develop the country’s largest and the most successful travel providers platform, and the merger follows a expanding listing of acquisitions by Ebix to emerge as a chief in a variety of segments by way of buyouts.
Ebix now has two travel portfolios — By way of and Mercury — which run globally.
The deal, which is the largest by the enterprise in the place, marks a string of buyouts that the Robin Raina team has carried out in the earlier two yrs.
Ebix had in April 2018 purchased out the fx card organization of the Centrum team — Centrum Immediate — for all around Rs one,200 crore and was merged with EbixCash, an finish-to-finish monetary exchange of the acquirer.
Centrum Immediate is into fx, abroad remittances, prepaid travel playing cards and travellers’ cheques and has a community of 165 shops spanning 55 towns and is the largest airport fx participant with presence in 24 airports. Ebix had also obtained two monetary providers corporations early this calendar year — Essel Currency trading and Weizmann Currency trading . — PTI
- The merger follows a expanding listing of acquisitions by Ebix to emerge as a chief in a variety of segments by way of buyouts
- Ebix now has two travel portfolios — By way of and Mercury — which run globally