Ebix Software India took a bold step and acquired a lion’s share of Zillious Solutions Private Limited as its ninth acquisition in India. Ebix acquired 80% stake of Zillious and will continue to provide the same services.
Ebix Software India is one-of-a-kind e-commerce and on-demand software services provider. The software arm is a part of a huge brand operating in diverse fields.
Zillious has been on the news for its excellent volume of travel bookings and transactions. Rohit Gaddi and Harsh Azad are the founders of this eminent platform that counted a record volume of 8 million transactions every year.
Zillious offers a turnkey solution for the travel management businesses operating pan India. It offers end-to-end software and technology solutions reaching a gross merchandise value of $1.4 Billion, as claimed by Ebix.
harsh Azad, Co-founder of Zillious, said, “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 fulfill this vision faster and seamlessly.”
It is pretty clear now that Zillious is taking its business to a new level to invade new competitions with an intimidating strategy. Ebix will maintain Zillious as a non-aligned platform for travel technology and will promote in the key international markets such as Asia, the USA, Middle East, etc.
The amount paid by Ebix was not disclosed. Robin Raina, CEO of Ebix, stated in a press release, “We have been in the business of setting up technology airports to power transactions, without taking any sides for decades now. Thus, this acquisition was a natural one for us as it allowed us to do the same in India’s fast-growing travel industry.”
The previous acquisition of Ebix was Leisure Corp, a Delhi-based travel company and Mercury Travels, a Mumbai-based firm for a whopping sum of $14.2 million.