Ebix grabs 80% stake in India’s SaaS travel company Zillious
The acquisition of Zillious is the ninth acquisition of Ebix in India.
Ebix Software India, a software arm of on-demand software and ecommerce services provider — Ebix Inc — has acquired 80% stake in Delhi-based on-demand SaaS technology solution provider for travel, Zillious Solutions Private Ltd. While the deal size was undisclosed, the acquisition would be immediately accretive, Ebix said.
Founded by Harsh Azad and Rohit Gaddi, Zillious offers an end-to-end technology solutions for travel management companies (TMCs), and online travel agencies (OTAs). It processes over 8 Mn travel bookings annually, with a gross merchandise value (GMV) of approximately $1.4 Bn per annum, claims Ebix.
Both the promoter founders of Zillious, along with all their team will continue to be a part of the venture.
“Our decision to offload a majority stake to Ebix was based on our long term vision to have a global footprint by expanding to US, UK, Asia, Australia and New Zealand. With Ebix’s global reach, we will be able to fulfil this vision faster and seamlessly. ET reported, citing Zillious cofounder Harsh Azad.
The acquisition of Zillious is the ninth acquisition of Ebix in India. In the travel sector, the company previously acquired Mumbai-based Mercury Travels and Delhi-based Leisure Corp for nearly $14.2 Mn.
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