Ebix, the US based software and services startup, has acquired online travel portal Via.com in a $75 million deal to further expand its scope of offerings in the travel segment and add more than a lakh of retail outlets to the EbixCash family. The startup also plans to cross sell its financial prod ucts to its customers using the platform to book tickets. This is the fifth acquisition by Ebix in India in as many months, since it acquired ItzCash early this year and has helped expand the retail footing of Ebix-Cash to around 2.2 lakh. The acquisition of Via.com gives the company an expanded foothold in the travel booking space and an entry into the South East Asian market.
Robin Raina, CEO of Ebix, commented that “I believe that the addition of Via’s integrated platform into our rapidly growing EbixCash financial exchange allows us tremendous cross-selling opportunities through each other’s distribution networks as our product portfolio is complementary and a perfect fit for each of our distribution outlets and corporate clients”. Vani Kola, MD at Kalaari Capital, also commented on the deal that “Ebix is a logical home for Via, as it complements EbixCash’s financial exchange portfolio perfectly, opening up tremendous cross-selling opportunities on both sides. We are excited about the possibilities this offers for both our customers and employees. Ebix’s financial strength, expertise, focus and commitment to the fintech sector were key in our decision”.