redBus, selling a million bus tickets every single month, sold to IbiboGroup
India’s biggest online bus reservation portal RedBus has been acquired by ibiboGroup, the company that runs Goibibo and TravelBoutiqueOnline.
ibiboGroup has executed a binding agreement to acquire redBus for an undisclosed amount, but some media outlets in India have put the price close to $138 million.
South Africa’s Naspers owns 80% in ibiboGroup and the remaining 20% is owned by China’s Tencent.
redBus and ibiboGroup will continue to be run independently and operate as separate businesses.