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Ebix, a Nasdaq-listed software and services provider, has bought India-based Via.com in a deal valuing the omnichannel travel, fintech and retail business at $75 million. The deal was conducted by Ebix’s Singaporean subsidiary Ebix Cash, which sells various financial services through offline and online channels across APAC. Via has also been growing its presence across APAC and the Middle East. Via.com claims to be “the only profitable travel exchange out of all its peers” having seen a compound annual growth rate of 45% over the past three years. Ebix says that the deal will be “accretive to Ebix earnings immediately…” and will “generate around $33 million in GAAP revenues in 2018 with approximately 30% operating margins.” Via.com handles 24.5 million transactions a year. Via.com’s offline network comprises 85,000 agents in India, 14,700 in Indonesia, 9,900 in Philippines, 600 in Singapore and 350 in the UAE and Oman. It also has 8000 corporate clients while B2C operations in Thailand, Hong Kong and Saudi Arabia are “gaining traction.” Read original article |
