EbixCash to acquire Pearl International Tours & Travels and Lawson Travels

EbixCash has announced that it has signed agreements to acquire the assets of Delhi-based Pearl International Tour & Travels and Mumbai-based Lawson Travels & Tours. The two companies cumulatively conduct a Gross Merchandise Value (GMV) of approximately $140 million. Both these companies will be integrated into EbixCash’s Via travel Division.
The acquisition of the assets of the two companies will increase EbixCash’s travel expanse across its two travels brands Via & Mercury, to a total GMV of $ 1.16 Billion. Besides increasing EbixCash’s travel foothold by 10,000 agents, it will also add 300 corporate clients and key B2C portals like www.sastiticket.com to the EbixCash travel spectrum of products and services. Ebix believes that the two acquisitions, once fully integrated into its Via division will generate operating margins of 30 per cent or more, over the next few months.
Robin Raina, Chairman, President and CEO, Ebix, said, “We have set up a very simple goal for ourselves in 2019 as far as the travel industry goes. We want to be India’s most profitable travel company besides being a clear No 2 in terms of top line by the end of 2019. With GMV of approximately 8,000 crores ($ 1.16 billion) including Pearl and Lawson at present, we are clearly getting very close to that goal. We are in the unique position of having a rich portfolio of other services like travel insurance, health insurance, foreign exchange, outward remittances, visa services etc., that perfectly complement our travel portfolio leading to extensive cross selling opportunities for us and a one-stop service experience for our B2B and B2C travel clients across the globe.”