Ebix, a leading provider of on-demand software and e-commerce solutions to a variety of industries, such as healthcare and government, is now targeting travel with the purchase of Via.com.
The deal for the Asia-Pacific-focused online travel agency is in the region of $75 million.
Via.com will be consolidated into Ebix’s financial exchange, EbixCash, in a bid to strengthen its position in that segment of the India market.
Ebix chairman, president and CEO Robin Raina says the deal is complementary to its existing areas of the business, “since insurance, remittances, phone recharges, prepaid gift cards etc. are the things that complement a consumer’s needs when they engage in travel.
“We believe that the cross-selling opportunities will further fuel organic growth in our EbixCash financial exchange portfolio.”
The Ebix brand is currently on the uptick, and its expansion into the travel technology sector is a sign of wider ambitions to solidify its position in the e-commerce market, especially as it relates to cross-selling opportunities across various industries.
“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,” says Vani Kola, managing director at Kalaari Capital.
“Ebix’s financial strength, expertise, focus and commitment to the Fintech sector were key in our decision. We believe that the two sides can leverage each other’s abilities to take a market leadership role in the South East Asian markets.”