Abhibus, an intercity bus operator, has been acquired by travel search app
Ixigo
.
The purchase price for the Hyderabad-based company has not been disclosed, except to say that it’s being sold for a mixture of cash and Ixigo stock.
Abhibus was India’s second largest bus operator in 2020 selling 26,000 tickets a day via the platform, according to a statement.
Ixigo says the acquisition boosts its presence outside of India’s major cities enabling it to offer a multi-modal service across rail, air and road.
The company’s founders say Abhibus has “built an innovative and high growth company with deep penetration on the supply side across state road transport companies and private operators and on the demand side, as the dominant bus ticketing brand in several indian states.”
Abhibus founder and CEO Sudhakar Reddy Chirra has joined Ixigo, alongside the rest of his team.
This is Ixigo’s second acquisition in 2021
with the company announcing the acquisition of Confirmtkt in February.
Last year it announced an investment in smart bus startup GogoBus.
Ixigo raised $53 million in late July
in a round led by Gamnat, an investment firm managed by Singapore sovereign wealth fund, GIC.