Bengaluru: AION Capital, a joint venture between global buyout investor Apollo and ICICI Venture, has emerged as the front-runner to acquire InterGlobe Technologies, the IT and back-office arm of travel conglomerate InterGlobe Enterprises, people directly aware of the matter said.
AION has entered exclusive discussions with InterGlobe, which could lead to a buyout of the latter for around $225-250 million, or Rs 1,800 crore. Diversified conglomerate InterGlobe — also the parent of India’s largest airline IndiGo — has a presence in aviation, hospitality, technology and real estate.
InterGlobe Technologies has expertise across more than 30 travel processes, queue management, baggage claim & in-flight points-of-sale (PoS) and over 100 travel technologies. The company clocked a Rs 712-crore revenue in the 2016-17 financial year compared to Rs 720 crore in the previous year.
TOI first reported about InterGlobe appointing investment banks to sell the travel-focused IT services business in March this year. The sale process had also attracted the interest of Tech Mahindra and French BPO company WebHelp, among others.
18/09/18 Shilpa Phadnis and Boby Kurian/Times of India
To Read the News in full at Source, Click the Headline
AION has entered exclusive discussions with InterGlobe, which could lead to a buyout of the latter for around $225-250 million, or Rs 1,800 crore. Diversified conglomerate InterGlobe — also the parent of India’s largest airline IndiGo — has a presence in aviation, hospitality, technology and real estate.
InterGlobe Technologies has expertise across more than 30 travel processes, queue management, baggage claim & in-flight points-of-sale (PoS) and over 100 travel technologies. The company clocked a Rs 712-crore revenue in the 2016-17 financial year compared to Rs 720 crore in the previous year.
TOI first reported about InterGlobe appointing investment banks to sell the travel-focused IT services business in March this year. The sale process had also attracted the interest of Tech Mahindra and French BPO company WebHelp, among others.
18/09/18 Shilpa Phadnis and Boby Kurian/Times of India
0 comments:
Post a Comment