collected by :Molly Tony
The acquisition of Via extends Ebix’s distribution network to over 224,000 outlets in South-east Asia.
Ebix Inc., a supplier of on-request Programming & e-commerce services to the insurance, financial, e-governance & healthcare industries, on Tuesday told 1 of its Singapore subsidiaries agreed to acquire Via.com, an on-line travel & assisted e-commerce interchange.
Earlier this 7 days, Mint announced which Ebix was looking to make significant acquisition bets in the travel space in India, having earmarked over $200 mn for strategic acquisitions.
According to Bhavik Vasa, chief development officer at EbixCash, the acquisition going to boost Ebix’s presence in the travel space, When too allowing for geographic expansion given which Via.com has a significant presence in South-east Asia.
This going to accelerate our presence in the travel space,” he told.
EbixCash acquires on-line travel portal Via.com for $75 mn
MUMBAI: America-based Programming & services Corporation Ebix has acquired on-line travel portal Via.com for nearly $75 mn that going to help extend Ebix’s distribution network to over two,24,000 distribution outlets across India & other South East Asian countries.This going to too unlock up opportunities for the Corporation to cross purvey its financial products to its clients Utilizing the travel outlet for booking tickets.
It has even rebranded the entire ItzCash payments entity as EbixCash.
more the Corporation has embarked on a process to innovate a financial interchange in the country & has consolidated its position both in the domestic remittance as well as the international remittance space.
We are excited about the possibilities this offers for both our customers & employees.
Ebix’s financial Dominance, expertise, focus & commitment to the fintech sector were key in our decision,” told Vani Kola, Managing Director at Kalaari Capital, that was 1 of the largest Businessmen in Via.
Ebix snaps up on-line travel Corporation Via for $75 mn
referring to Payments company Itzcash’s America-based parent Ebix has acquired on-line travel Corporation Via.com for $75 mn.Ebix, which has committed over $200 mn for the Indian market, has been making acquisitions in the space of remittances & insurance as it looks to strengthen its financial interchange platform here.
Paytm had too offered a bargain to the Corporation valuing it at $fifty-sixty mn however Ebix pipped the Noida-based payments great snapping Via for $75 mn.
Via generates a significant chunk of its business from non-metro cities where Ebix has a network of offline agents.
The Corporation too has presence in south east Asia.Robin Raina, president & chief executive officer, Ebix told TOI the Corporation Information Systems looking to build a bouquet of products as fraction of its financial interchange & travel segments.
We believe which the cross-selling opportunities going to more fuel organic development in our EbixCash financial interchange portfolio,” Raina told.Mumbai-based investment bank The RainMaker Group was the sole advisor to the bargain.