Nasdaq-listed Ebix, also the parent company of EbixCash (earlier) ItzCash, has bought two Indian companies in luxury travel space -- Mercury Travels , and Leisure Corp -- for a cumulative amount of approximately $14.2 million, to create a new travel division, called Mercury. The acquisitions were made through Ebix’s Indian subsidiary, EbixCash- which runs the financial services platform baring the same name. Incorporated in 1948 as an Oberoi Hotel Group Company, Mercury is a luxury travel brand with a pan India Network of 40 Preferred Sales Agents (PSAs), 20 Branch offices across 16 major cities in India, 350 employees, and an Extended reach in international markets through marketing offices in London, Hamburg & Frankfurt. Amongst other travel related services like Events based travel and insurance, Mercury also has a Foreign Exchange business serviced through its AD-II license issued by the Reserve Bank of India. The company also owns an adventure hotel property through its Mercury Himalaya Expo joint venture. Mercury has multi-year contracts and associations with airlines, bus operators, hotels etc. besides having a client base that includes leading names like the Oberoi Hotels chain and the Mahendra Group. Mercury also has 54 franchisee partnerships for undertaking money-changing activities, with leading hotels like Hyatt, Oberoi, Imperial etc. Incorporated in 1997, Leisure Corp is into Events related travel space (MICE) & luxury trains and luxury travel, with a focus on the insurance and financial sector & inbound luxury travelers. The company also specializes in creating customised packages for the sports travelers, with exclusive travel agent rights…
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