Tag Archives: EbixCash

EbixCash Travels(Via.com) has taken the bold initiative to re-engage with the trade by conducting Travel Sub-agent Meets across the country, making sure that all COVID protocols are followed. Naveen Kundu, MD, EbixCash Travel Services (parent company of Via.com) says, “The aim behind these meets is to bring agents out of their post-COVID shells and from their offices/ homes, to get back to work and their business. These are small and medium enterprises, and we have been telling them that we as a conglomerate will help you with technology, credit lines, efficient payment remittances. When the partners and the principles meet together, they develop a camaraderie, which eventually will work in the favor of the customer, suppliers and the business. We must put in efforts to bring the business to normal, these are the efforts that we are making and rewarding them for staying through with us, even during the pandemic.” Now that the situation is getting better, EbixCash Travels (Via.com) is all out to support, reassure and extend help to its trade partners to grow their business because we believe in developing and keeping the connection personal with the community, and expanding it by creating physical community meetings. The meets are being conducted to have a closed group conversation with the partners to understand challenges and help them overcome them.

EbixCash has launched the ‘Phir Se Ghoomega India’ campaign and offering value-for-money deals to the consumers looking to travel in the festive season. The offers will be available on its portal, Via.com. “I am excited at the campaign and equally optimistic about its success as we are experiencing a great response post-lockdown,” said Naveen Kundu, MD, Ebixcash Travel Group. The airline partners for this campaign are Vistara, AirAsia and GoAir, and the hotel groups having joined this campaign are Taj Group, Marriott, The Park, Radission Hotels, ITC Hotels, Sterling Holidays and Accor. The cab partners for this campaign are EbixCash Cab – AHA Taxis and EbixCash Gift Card.

Ebixcash Tours & Travels has become the preferred travel & forex partner of 5 IPL teams. The company will handle travel needs of players and provide end to end support including charter flights, ground transportation, foreign exchange, hotel rooms and event insurance coverage.   A fully owned subsidiary of Ebix Inc., EbixCash has announced that it is handling the travel needs for five of the eight franchises involved in an 82-day Indian Premier League (IPL) cricket sporting extravaganza in Dubai. Under the leadership of Naveen Kundu, Managing Director, EbixCash Tours & Travels, EbixCash has been able to secure this prestigious assignment. As a part of this engagement of EbixCash independently by five of the IPL Franchises, EbixCash is handling approximately 19,000 plus hotel room night bookings for four franchises, chartered flights for five franchises, ground transportation for two franchises, foreign exchange needs for the entire entourage of four of the teams and event insurance coverage for one team. Kings XI Punjab, Delhi Capitals, Rajasthan Royals, Kolkata Knight Riders and Chennai Super Kings are the five franchises who have engaged EbixCash Tours and Travels for varied travel needs of each of the franchises. Sharing his views on the deal, Kundu says, “We are honoured to have been chosen as the vendor of choice by the majority of the IPL franchises. Their decision was made easier with EbixCash emerging as the only end-to-end services provider who could handle their varied needs under one window. Our depth of products and services, international expanse, travel expertise and the past record was instrumental in us being selected for this prestigious engagement.” Robin Raina, Chairman of the Board, President & CEO, Ebix, said, “In COVID-19 times, …

A day after Yatra Online announced to terminate the merger agreement,  Ebix Inc, who was supposed to acquire the online travel company has issued a statement where it has expressed its strong disagreement with the allegations set forth by Yatra. Ebix intends to enforce all of its rights under the Merger agreement and is currently considering all options, including a countersuit against Yatra, on account of multiple breaches of the merger agreement. In the statement, Ebix said, “On May 14, 2020, Yatra Online, Inc., a Cayman Islands exempted company limited by shares (“Yatra”), entered into an agreement (the “Fourth Extension Agreement”) with Ebix, Inc. (“Ebix”) extending the outside date of the Merger Agreement (the “Merger Agreement”), dated July 16, 2019, by and between Yatra, Ebix and EbixCash Travels Inc., a direct, wholly-owned subsidiary of Ebix (“Merger Sub”) to June 4, 2020 (the “Outside Date”). The Merger Agreement contained certain termination rights for Ebix and Yatra, including, among others, the right of either party to terminate the Merger Agreement if the Merger has not been consummated on or prior to the Outside Date. The Outside Date was extended to June 4, 2020, in order to provide the parties with time to determine whether they could reach mutual agreement on an amendment of certain terms of the Merger Agreement. After the expiration of the Outside Date and the failure of the two parties to agree on the terms of an amended Merger Agreement by the Outside Date, Yatra terminated the Merger Agreement on June 5, 2020, and filed suit against Ebix in the Delaware Court of Chancery for breach of contract. Ebix worked diligently to fulfil its obligations under the Merger Agreement …

EbixCash, a fully owned subsidiary of Ebix, has announced a strategic travel technology partnership with Amadeus to grow its footprint across the Asia-Pacific region and UAE and become a one-stop shop for travel. The partnership will provide EbixCash’s online websites, travel agents and corporations in Asia-Pacific and UAE with greater access to the unrivalled breadth of content offered by the Amadeus Travel Platform , enabling EbixCash to better serve its customers. Robin Raina, Chairman of the Board, President & CEO, Ebix, said, “Our vision is to build an end-to-end travel solution for the industry. We want to empower travel agents and travellers alike. EbixCash today is the largest end-to-end financial exchange in the Indian sub-continent, besides its parent company Ebix being the largest insurance exchange in the world. We are always looking for new ways to stay ahead of our competitors. Partnering with Amadeus gives us access to innovative technology that will allow us to further expand our footprint across the region, especially in India, Thailand, the Philippines, Indonesia, Singapore, Dubai and Abu Dhabi, where we see the greatest potential. Our growth strategy is built on the premise of having an unrivalled ‘phygital’ presence in the region – combining our physical distribution outlets in Southeast Asia with an omnichannel digital presence that allows our seller partners to have access to extensive real-time data and ecommerce solutions across all digital channels. Amadeus’ technology empowers EbixCash to deliver this and truly become a one-stop shop for travel.”  

Ebix will be acquiring Yatra Online via merger, as part of a definitive agreement signed between the two travel giants. Following the completion of the transaction, Yatra will become part of Ebix’s EbixCash travel portfolio alongside Via and Mercury and will continue to serve customers under the Yatra brand. The transaction will create India’s largest and most profitable travel services company, and a leading online travel platform poised to capture significant international growth opportunities. Ebix Chairman, President and CEO Robin Raina, commented, “The acquisition of Yatra would lend itself to significant synergies and the emergence of EbixCash as India’s largest and most profitable travel services company, besides being the largest enterprise financial exchange in the country. Over the last few months, we have evolved a detailed synergistic plan, that once fully executed can provide between 40 to 75 cents of accretion to the Ebix non-GAAP EPS. We are excited by the cross-selling opportunities that this combination provides us, while further strengthening our future EbixCash IPO offering.” Dhruv Shringi, Co-founder and CEO of Yatra Online. “We are pleased to announce this agreement with Ebix, which provides our shareholders with the opportunity to participate in the significant upside potential of one of the fastest growing multinational On-Demand software and E-commerce services companies in the world. Over the last several years, we have built Yatra into one of India’s most well- recognized e-commerce brands, growing into the leading corporate travel services provider and one of the largest consumer travel companies. Becoming a part of Ebix’s EbixCash travel portfolio will enable us to continue on that path. As part of a larger diversified organization with the necessary scale and resources to be a leader …

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.”

EbixCash has acquired assets of Business Travels and has appointed its owner Praveen Chugh as the Chief Operating Officer of Via agency sales. The company announced that it has decided to further invest in the growth of its B2B business under Chugh, who has immediately taken over as Chief Operating Officer of Via. As a part of the hiring, Chugh’s existing travel company Business Travels Private Limited assets was also acquired by Via. Chugh has been empowered by the company to recruit as many as one hundred domain specific travel sales executives, besides opening up new travel locations across the length and breadth of the country. Robin Raina, Chairman, President and CEO, Ebix, said, “We are excited to have Mr Praveen Chugh on our side. His vast experience, success record and contacts in the world travel industry provide us with an industry veteran who can lead Via B2B Sales to new heights. He has the ability and drive to grow our Via travel division business at high double-digit rates. We believe that the strength of our vast retail network, end-to-end enterprise travel technology and functionality, coupled with strong sales leadership, positions us to grow our travel business aggressively internationally.”