Ebix buys majority stake in Zillious

Insurance software firm Ebix Inc. has acquired 80 per cent stake in New Delhi-based travel technology company Zillious Solutions Pvt. Ltd for an undisclosed sum.

“Zillious will remain a non-aligned technology platform, and Ebix will promote it internationally in key markets like West Asia, the US and Asia, besides further establishing it as an on-demand travel technology exchange within India,” a statement said.

Following the acquisition, Zillious co-founders Harsh Azad and Rohit Gaddi, along with the team, will continue to work on the platform, the statement added. Zillious is an on-demand technology initiative which fulfils end-to-end technology needs of travel management companies, corporates, as well as offline and online travel agents. The Zillious Exchange claims to process over eight million travel bookings annually, with gross merchandise value (GMV) of approximately $1.4 billion per year.

Harsh Azad, Co-founder and Director, Zillious, said: “Our decision to offload a majority stake to Ebix was based on our long-term vision to have a global footprint by expanding to the US, the UK, Asia, Australia and New Zealand. With Ebix's global reach, we will be able to fulfil this vision faster and seamlessly.”