ixigo acquires bus ticketing platform AbhiBus
Business assets, intellectual property, team, technology & operations, transfer from AbhiBus to ixigo
Le Travenues Technology Limited, the company that 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.
The long-haul intercity bus market in India was valued at INR 585 Billion in FY2020.
Aloke Bajpai and Rajnish Kumar, Co-Founders, ixigo said - “ixigo and AbhiBus founders share the passion and focus on the next billion traveler 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. 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 India every day.”
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. We are excited to be joining ixigo, whose team and products have created new benchmarks for the travel industry. We remain committed as a team towards our joint vision of serving the underserved market segment of the next billion travelers in the country, for whom trains and buses are the primary modes of transportation.”
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, 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.
This is ixigo’s second acquisition in 2021. In February 2021, ixigo acquired train booking app Confirmtkt.
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