EbixCash, the Financial Exchange Division of NASDAQ-listed software company Ebix, has acquired the assets of travel company Business Travels, to strengthen Via operations.
As part of the deal, Praveen Chugh, owner of Business Travels, is appointed as the Chief Operating Officer, Agency Sales, Via.
Robin Rana, Chairman, President, and CEO, Ebix, said, “We are simply excited to have Mr. Praveen Chugh on our side. His vast experience, success record and contacts in the world travel industry provide us with an industry veteran who can lead Via B2B sales to new heights. He has the ability and drive to grow our Via Travel Division business at high double-digit rates,”
He further added, “We believe that the strength of our vast retail network, end-to-end enterprise travel technology & functionality, coupled with strong sales leadership; positions us to grow our travel business aggressively internationally.”
Via is an online travel portal, that lets its users’ book hotels, flights, buses, and holiday packages from a single platform. The online travel portal has more than 85,000 agents in India, 14,700 agents in Indonesia, 9,900 agents in the Philippines, 600 agents in Singapore and 350 agents in UAE and Oman.
The latest acquisition will help Ebix grow Via’s B2B business, leveraging the vast experience of Praveen Chugh in the travel sector.
Praveen Chugh has spent more than four decades in the travel sector, not only providing leadership and guidance to the industry but also in creating some of India’s largest travel companies. He is one of the most respected names in the Indian travel industry. He is credited with increasing TSI-Yatra’s turnover 300% in a span of three years.
Ebix provides On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. In a bid to strengthen its network and operations in India, Ebix has been aggressively making acquisitions in India.
In the last four months, Ebix has acquired at least four Indian companies.
In September, Ebix acquired fintech company Miles Software for ₹136 crores.
In August, Ebix acquired two travel companies Mercury Travels and Leisure Corporation, to strengthen its travel business.
In July, Ebix acquired Indus Software Technologies for ₹200 crores, to integrate into Ebix’s Financial Exchange EbixCash offering in India and abroad.