Ebix, a US-based software and e-commerce service provider, has proposed an acquisition deal to Yatra Online.
Ebix has offered to acquire 100% of the outstanding stock of Yatra Online to $7 per share on a debt-free basis. The whole deal is for about $336 million (INR 2342 crore).
Yatra is an online travel service provider, founded in 2006. It offers a whole variety of travel-related services such as hotel booking, domestic and international air ticketing, hotel booking, home stays, holiday packages and a lot more.
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With this deal, Ebix is looking forward to expanding and strengthening its presence in the Indian market. Moreover, Yatra Online’s services would complement Ebix’s travel portfolio which in turn would be profitable for both the entities.
Ebix has also acquired a Bangalore-based startup in the past to strengthen its footprints in the Indian market. Yatra is still reviewing the acquisition offer.