Le Travenues Technology Ltd, which promotes the artificial intelligence-based travel app ‘ixigo’ has purchased the business and operations of Abhibus, a Hyderabad-based bus ticketing and aggregation platform AbhiBus.
This is Gurguram-based ixigo’s second acquisition this year. In February 2021, it acquired train booking app Confirmtkt.
“It involved part cash and part stock as consideration,” an Abhibus statement said, without disclosing the size of the deal.
Consolidation
Post acquisition, 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.
AbhiBus was the second largest bus aggregator in the country, selling 26,000 bus tickets per day through its platform in 2019-20.
“This deal will help the ixigo group to consolidate its presence in tier 2, 3 and 4 markets by offering a multi-modal transportation experience across trains, flights and buses to its users,” Abhibus said.
The duo has a combined user base of about 25.5 crore as on May 31 this year.
“AbhiBus has built an innovative and high growth company with deep penetration on the supply side across state road transport companies (SRTCs) and private bus operators,” Aloke Bajpai and Rajnish Kumar, Co-Founders, ixigo, said.
“By leveraging our combined user base, multi-modal transportation capabilities, tech resources and travel domain expertise, we will be able to enhance the experience of millions of travellers in the country every day,” he said.
Abhibus, the 13-year-old bus ticketing platform, provides end-to-end software, fleet management solutions, vehicle tracking systems, passenger information systems and logistics management.
It also provides technology solutions to private bus partners and State transport corporations in different parts of the country.