Ebix Inc. said that one of its Singapore subsidiaries will acquire Via.com, an Omni-channel online travel and assisted e-commerce exchange. The price tag: $74.9 million.
Ebix, a provider of on-demand software and e-commerce services for the insurance, financial, e-governance and healthcare industries, said the transaction should close within the next few days.
Ebix said the acquisition expands Ebix’s distribution network to more than 224,000 distribution outlets in Southeast Asia. As well, the Johns Creek, Ga.-based company said the acquisition also creates “significant cross selling opportunities” for its EbixCash Financial Exchange portfolio products.
The Ebix deal announcement describes Via as a “recognized leader in the travel space in India,” and asserts it is the “only profitable travel exchange out of all of its peers.” Via has more than 110,000 distribution outlets and 8,000 corporate clients, and it processes more than 24.5 million transactions annually, Ebix said.
Ebix said it will consolidate Via into its EbixCash Financial Exchange, “while bringing significant synergies and redundancies to the combined operation.” Ebix said the acquisition should generate about $33 million in revenues in 2018, with operating margins of about 30 percent.
Source: Ebix Inc.