Via, a travel services company that follows a hybrid online+offline sales model, has acquired Jalandhar based travel company TSC Travel Services for an undisclosed sum, reports IndiaInfoline. TSC Travel Services is a travel aggregator which sells tickets of major International Airlines flying in and out of New Delhi and all the main International airlines flying to and from India. It claims to have serviced more than 3,50,000 customers through its base of 500 agent partners. This will be the first acquisition for FlightRaja Travels, the holding company of Via, as noted by TechCircle, and it is expected to strengthen Via's network of offline and online travel partners in North India and help the company in increasing its overall International travel business. Last year, Via had raised an investment of $10 million from Sequoia Capital through its holding company FlightRaja Travels and it was rumored to have raised another $100 million from VC and PE investors in a bid to launch a $1 billion IPO in the next 12-18 months. The company currently claims to have a network of 50,000 travel partners and presence in 2400 cities. Financials: FlightRaja had earlier reported a Profit After Tax (PAT) of Rs. 12.79 crore and an operational income of Rs. 143.25 crore for the financial year ending 31st March 2010. This revenue includes Rs 134 crore revenue from Air Travel segment, Rs 96.29 lakh from the Railway segment, and Rs 8.28 crore from other revenue channels. Its competitors include MakeMyTrip.com, Cleartrip.com, Yatra.com and Tripadvisor.in. Acquisitions in travel sector: Of late, we have been witnessing quite a few…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...