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Via Acquires TSC Travel Services; Expects To Strengthen Its Presence In North India

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.

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Acquisitions in travel sector: Of late, we have been witnessing quite a few acquisitions in the online travel segment in India. MakeMyTrip acquired MyGuestHouse.net, a company which aggregates, sells and distributes budget room accomodation in India , while Yatra acquired a b2b hotel aggregation and reservation company, MagicRooms through its hotels subsidiary Intech Hotel Solutions. Coincidentally, Magic Rooms was founded by FlightRaja co-founder Niranjan Gupta in 2009.

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