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BREAKING NEWS

Monday, 21 January, 2019, 14 : 30 PM [IST]

Ebix Inc. to takeover two Indian Travel and Tour companies

Ebix Inc. has announced that one of its Indian subsidiaries has signed agreements to acquire the assets of Delhi based Pearl International Tour & Travels and Mumbai based Lawson Travels & Tours.

The two companies cumulatively conduct a Gross Merchandise Value (GMV) of approximately USD 140 million. Both these companies will be tightly integrated into EbixCash’s Via travel Division.

The acquisition of the assets of the two companies will increase EbixCash’s travel expanse across its two travels brands Via & Mercury, to a total GMV of USD 1.16 Billion. The acquisition will not only increase EbixCash’s travel foothold by 10,000 agents, but also add 300 corporate clients and key B2C portals like www.sastiticket.com to the EbixCash travel spectrum of products and services.

The two acquisitions will cumulatively add approximately 450+ employees, 11 branches and 10,000 agents, leading to EbixCash’s travel portfolio having 2,200+ employees, 212,450+ agent network, 25 branches and 9800+ corporate clients.

Commenting on the acquisition of the two companies from India, Robin Raina, Chairman, President & CEO, Ebix said that they had set up a very simple goal for themselves in 2019 as far as the travel industry goes.

“We want to be India’s most profitable travel company besides being a clear No. 2 in terms of top line by the end of 2019. With GMV of approximately INR 8,000 crores (USD 1.16 Billion) including Pearl and Lawson at present, we are clearly getting very close to that goal. We are in the unique position of having a rich portfolio of other services like travel insurance, health insurance, foreign exchange, outward remittances, visa services etc. that perfectly complement our  travel portfolio leading to extensive cross selling opportunities for us and a one-stop service experience for our B2B and B2C travel clients across the globe,” said Raina.

 “I am happy that Pearl & Sastiticket.com will find a new home at Ebix. Being part of a larger global organization will bring best in class systems and processes as also help build the business further synergistically,” said Arjun Seth, Managing Director, Pearl International Tours & Travels.

John Thomas, Managing Director, Lawson Travels stated that it was a historic day for Lawson Travel as they have begun a new chapter as a part of the Ebix family.

“It is an emotional time for me as I take this step but am excited to see how this new mighty travel conglomerate takes shape. Our team at Lawson is young and dynamic and has deep knowledge of the travel market,” said Thomas.

EbixCash has two travel brands – the Mercury Luxury initiative and the Via.com travel initiative, that have uniquely positioned EbixCash as India’s largest Financial Exchange with end-to-end travel solutions for all sections of the society.

 
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