[the_ad id="83613"]

IPO-bound Ixigo acquires bus ticketing platform AbhiBus

Online travel aggregator Ixigo has acquired Hyderabad-based bus ticketing and aggregation platform AbhiBus for an undisclosed amount. This is the second acquisition for the IPO-bound company in 2021. 

In February, it acquired 100% stake in train booking app Confirmtkt.

According to Ixigo, the deal is a mix of cash and stock. However, it did not disclose the further details of the transaction. AbhiBus employees, including founder Sudhakar Reddy Chirra, will join the Ixigo team and all intellectual property, brands, technology and operations have also been transferred to the Gurugram-based company.

Established in 2008 by Chirra, AbhiBus provides end-to-end software and other value-added solutions such as e-ticketing systems, fleet management solutions, vehicle tracking systems, passenger information systems and logistics management. 

The acquisition of AbhiBus comes soon after Ixigo’s $53 million round led by Singapore-based GIC. As per media reports, the company is all set to file the draft red herring prospectus for its Rs 1,200-1,500 crore IPO. 

Ixigo

Earlier this week, Ixigo converted its holding entity from a private limited company to a public limited company. Meanwhile, the company has also appointed six new independent members to its board.

About Author

Entrackr is a new age media platform for entrepreneurs, startups and technology enthusiast Read More >

©️ All rights reserved Bareback Media Pvt. Ltd.

Send Suggestions or Tips