Ixigo acquires Hyderabad-based bus ticketing platform AbhiBus
The AbhiBus team led by its founder Sudhakar Reddy Chirra have joined the ixigo team, and all intellectual property, brands, technology and operations are being transferred to ixigo.
Hyderabad: Le Travenues Technology, which operates the AI-based travel app “ixigo” has purchased the business and operations of Hyderabad-based bus ticketing and aggregation platform AbhiBus as a going concern on a slump sale basis vide a business transfer agreement, for a mix of cash and ixigo stock as consideration.
The AbhiBus team led by its founder Sudhakar Reddy Chirra have joined the ixigo team, and all intellectual property, brands, technology and operations are being transferred to ixigo. This is ixigo’s second acquisition in 2021. In February 2021, ixigo acquired train booking app Confirmtkt.
AbhiBus was the second largest bus aggregator in India in FY20, selling 26,000 bus tickets per day through its platform. This deal will help the ixigo group to consolidate its presence in tier 2/3/4 markets by offering a multi-modal transportation experience across trains, flights and buses to its combined user base of nearly 255 million users, as of May 31, 2021.
Aloke Bajpai and Rajnish Kumar, co-founders, ixigo said, “ixigo and AbhiBus founders share the passion and focus on the next billion traveller market. AbhiBus has built an innovative and high growth company with deep penetration on the supply side across State Road Transport companies (SRTCs) & private bus operators and on the demand side, as the dominant bus ticketing brand in several Indian States.”
Sudhakar Reddy Chirra, founder & CEO, AbhiBus said, “We started AbhiBus with a vision to become India’s most preferred bus booking platform. We are happy that we were able to build a motivated, tightly-knit team and we grew rapidly to become one of the leading bus ticketing players in the country.”
AbhiBus, established in 2008 by Sudhakar Reddy Chirra, 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 company also provides technology solutions to private bus partners and State transport corporations in India. It has also partnered with IRCTC to offer bus tickets to IRCTC users.
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