Le Travenues Technology Limited, which operates travel platform ixigo, on Thursday announced that it has acquired bus ticketing and aggregation platform AbhiBus.
The size of the deal has not been disclosed. The slump sale includes a mix of cash and Ixigo stock as consideration.
The development comes a week after ixigo raised $53 million in a round led by Singapore’s sovereign fund GIC.
“AbhiBus has built an innovative and high growth company with deep penetration on the supply side across state road transport companies and private bus operators and on the demand side as the dominant bus ticketing brand in several Indian states. By leveraging our combined user base and capabilities we will be able to enhance the experience of millions of travellers,” Aloke Bajpai and Rajnish Kumar, co-founders, ixigo, said.
“We are excited to be joining ixigo, whose team and products have created new benchmarks for the industry. We remain committed towards our vision of serving the underserved market segment of the next billion travellers, for whom trains and buses are the primary modes of transportation,” said Chirra, founder and chief executive officer, AbhiBus.
Source: Mint