VIA Acquires Jalandhar-Based Travel Agency
Bangalore-based Flightraja Travels Pvt. Ltd. (Via), an online travel and deals site has begun on an inorganic growth path by acquiring Jalandhar-based travel agency, TSC Travel Services Pvt Ltd for an undisclosed sum. TSC is a travel consolidator, selling tickets to major international airlines flying in and out of New Delhi.
This is the first acquisition by Flightraja, which was incorporated in 2007 as a B2B travel company and later launched B2C travel site Via.com and, more recently, a daily deals site called 'Deals More'.
Now the company is looking to make more acquisitions. The acquisition of TSC Travel Services will strengthen VIA's network of 50,000 online and offline travel agents in the country. VIA currently has 40 million customers and is present in 2,400 cities. It runs ticketing portal Via.com and is backed by Indo US Venture Partners and Sequoia Capital. It is also planning to raise $100 million to expand to more countries.
The travel sector is witnessing consolidation as larger travel firms attempt to strengthen their networks and scale up their inventory. Recently, rival MakeMyTrip announced it plans to acquire an approximately 29 per cent stake in Delhi-based My Guest House Accommodations Private Limited, for $1 million.
A few months ago, SAIF Partners and MakeMyTrip announced the two would acquire a majority stake in Gurgaon-based Le Travenues Technology Pvt Ltd, which owns and operates travel search engine iXiGO.