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Ebix (NASDAQ:EBIX), fintech company announced that it plans to acquire online travel company, Yatra. The deal is planned to take place through a merger, where the combined companies will have 11,000 employees worldwide. As quoted in the press release: Ebix is a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, …
Ebix (NASDAQ:EBIX), fintech company announced that it plans to acquire online travel company, Yatra. The deal is planned to take place through a merger, where the combined companies will have 11,000 employees worldwide.
As quoted in the press release:
Ebix is a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. Yatra Online is the parent company of Yatra Online Pvt. Ltd., India’s leading Corporate Travel services provider and one of India’s leading online travel companies. Following the completion of the transaction, Yatra will become part of Ebix’s EbixCash travel portfolio alongside Via and Mercury and will continue to serve customers under the Yatra brand. The transaction will create India’s largest and most profitable travel services company, and a leading online travel platform poised to capture significant international growth opportunities.
Ebix Chairman, President and CEO Robin Raina, commented, “The acquisition of Yatra would lend itself to significant synergies and the emergence of EbixCash as India’s largest and most profitable travel services company, besides being the largest enterprise financial exchange in the country. Over the last few months, we have evolved a detailed synergistic plan, that once fully executed can provide between 40 to 75 cents of accretion to the Ebix non-GAAP EPS. We are excited by the cross-selling opportunities that this combination provides us, while further strengthening our future EbixCash IPO offering.”
Click here to read the full press release.