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Travel portal Ixigo acquires bus ticketing startup AbhiBus

Times of India  

IPO-bound online travel portal Ixigo has acquired Hyderabad-based AbhiBus in a cash and stock deal. 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. The deal will help Ixigo consolidate its presence in Tier II/III/IV markets by “offering a multi-modal transportation experience” to the combined user base of 255 million users. Founded in 2008 by Chirra, AbhiBus provides end-to-end software and other value-added solutions, such as e-ticketing systems and fleet and logistics management solutions. The company also provides technology solutions to private bus operators and state transport corporations in India. It counts IRCTC Ltd. as a partner. AbhiBus was reportedly the second largest bus aggregator in India in 2019-20, selling 26,000 bus tickets per day through its platform.

From the Venture Intelligence PE-VC Deal Database: In Oct-15, AbhiBus had raised funding from Paytm. From the Venture Intelligence M&A Deals Database: Ixigo had earlier made four other acquisitions, the latest being the Feb-21 purchase of Bengaluru-based online train discovery and booking platform Confirmtkt.