Thursday, February 14, 2019

Zillious Solutions Offloads 80% Stake to Ebix Inc Supplier of On-Demand Software and E-commerce Services

Zillious Solutions Private Limited, an on-demand SaaS travel technology solution, with market leadership in the corporate travel segment in India has offloaded 80% stake to Ebix Inc., a NASDAQ listed leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries through its Indian arm Ebix Software India.

Zillious is a pure-play on-demand technology initiative which enables end-to-end technology needs of travel management companies (TMCs), corporate, travel agents and Online Travel Agents(OTAs) in the travel industry. The Company is a market Leader in the Indian Corporate Travel technology space, serving 7 out of top 10 TMCs.  The Zillious Exchange processes over 8 Million travel bookings annually, with Gross Merchandise Value (GMV) of approximately $1.4 billion per annum.
Zillious will remain a non-aligned technology platform, and Ebix will promote it internationally in key markets like the Middle East, US and Asia, besides further establishing it as a pure-play on-demand travel technology exchange within India. Both the promoter founders of Zillious, Harsh Azad and Rohit Gaddi, along with all their domain intensive team will continue to work towards this endeavor. Accordingly, the Zillious platform will continue to be offered to the entire travel industry with a glass wall protection for the client base.

Ebix is funding the transaction in cash, using its internal cash reserves. The acquisition is expected to be accretive to Ebix earnings immediately.

“Our decision to offload a majority stake to Ebix was based on our Long term Vision to have a Global footprint by expanding to US, UK, Asia, Australia & New Zealand. With Ebix’s Global reach we will be able to fulfill this vision faster and seamlessly. We at Zillious have been passionately Non-Aligned and independent. In Ebix, we found a partner which was in tune with our core philosophy. This decision will benefit our existing and potential customers immensely”, says Mr. Harsh Azad, Co-founder and Director Zillious.

“Ebix will help us grow across the globe and the Zillious team will continue to grow with us. Infact, to meet the increased volume of work, we will look at hiring tactically, shortly. Our customers will not only be serviced by the same Zillious teams but will also have access to cutting edge technology on a global level. We remain committed to working with our clients and spearheading the team in the best way possible. We will remain at the helm and lead from the front”, says Mr. Rohit Gaddi, Co-founder and Director Zillious.

Ebix Chairman of the Board, President and CEO Robin Raina said, “Ebix has a successful track history of two decades in terms of providing non-aligned technology solutions, with Ebix bullet proofing its clients from data privacy or data sharing or any alignment concerns. We have been in the business of setting up technology airports to power transactions, without taking any sides for decades now. Thus, this acquisition was a natural one for us as it allowed us to do the same in India’s fast-growing travel industry.”

End-to –End Functional Solution for Travel Industry

The Zillious product range is a complete end to end technology suite which encompasses its industry leading booking engine using multiple sources of fares and availability to ensure the lowest and most accurate fares, combined with comprehensive reporting and management capabilities. It provides a single window to address all the travel booking needs of the travel agency staff and business travel center staff to serve all their booking queries.

Zillious platform is interfaced with all the key GDS service providers globally.

With powerful reporting and corporate compliance, multi-channel consultant, implant and Self Booking Tool (SBT), comprehensive user management and auditing, highly sophisticated mobile booking application, multi-product booking engine etc., the Zillious platform is today seen as the most powerful travel technology platform for the Corporate sector.
The Company has the unique solution of offering its core travel technology platform (SBT) to corporates directly apart from the TMCs.

The Company recently expanded its operations in Middle East and has already successfully on-boarded three large travel accounts in Middle East.

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