homefinance NewsEbix Yatra deal: Here are all investments Ebix made in India so far

Ebix-Yatra deal: Here are all investments Ebix made in India so far

Ebix-Yatra deal: Here are all investments Ebix made in India so far
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By CNBC-TV18 Mar 12, 2019 4:35:27 PM IST (Updated)

Since 2018, the company has already invested in seven platforms in India

Ebix Inc, a US software company run by CEO and promoter Robin Raina,  on Monday offered to buy out the Nasdaq-listed domestic travel portal Yatra Online Inc for $7 per share — an 84 percent premium — on a debt-free basis. If the deal passes through, it will add to the slew of investments the company has done in India.

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Since 2018, the company has invested in seven platforms. If the deal goes through this will be the second deal for Ebix, in seven months, having bought Centrum group's forex and travel business Centrum Direct.
The company provides on-demand software and e-commerce services to a host of industries. Ebix serves insurance, financial, healthcare and e-learning sectors spanning 50 markets across five continents.
Here's where the company invested in India:
Ebix's subsidiary acquired an 80 percent controlling stake in Zillious Solutions Private Limited, which is an on-demand SaaS travel and provides technology solutions in business process consulting firm for the travel industry.
The announcement of the acquisition came in February.  Ebix said it will fund the transaction in cash, using its internal cash reserves.
Weizmann Forex Limited
EbixCash World Money Limited, Indian subsidiary of Ebix, said it entered into an agreement to acquire a 74.84 percent controlling stake in Weizmann Forex in January. Weizmann is among the largest inward remittance provider.
The parent company said it will be funding the entire transaction in cash, using its existing bank line and internal cash reserves.
Foreign Exchange services at Kannur Airport
EbixCash World Money, the company's subsidiary and forex division, was awarded the rights in December for providing foreign exchange services at the newly-opened Kannur International Airport.
AHA Taxis
The software major, in December 2018, said that one of the EbixCash subsidiaries acquired a 70 percent stake in AHA Taxis, an online cab hiring platform mainly known for its inter-city travel.
The company, in October 2018, said one of the India-based EbixCash subsidiaries acquired a 67 percent stake in Routier, a Delhi-based business-to-business marketplace for trucking logistics.
Centrum Direct
The company, in August 2018, acquired Centrum Direct for a reported Rs 1,2000 crore valuation. Centrum Direct was the largest travel business and forex dealer in the country before the deal.
The company in April 2018 announced it entered into an agreement to acquire 60 percent stake in India based Smartclass Educational Services Private Limited (Smartclass). Smart class is an e-learning company and helps in implementing education solutions for schools.
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