Zillious Solutions Offloaded 80 Percent Stake to Ebix Inc.

Zillious Solutions Private Limited, an on-demand SaaS travel technology solution, with market leadership in the corporate travel segment in India has offloaded 80 percent stake to Ebix Inc., which is a NASDAQ-listed leading global 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, on its parts, is a pure-play on-demand technology initiative. It 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.

In the new scheme of things, Zillious will continue to be a non-aligned technology platform, while Ebix will promote it internationally in key markets like the Middle East, US and Asia, besides further establishing it as 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.

When it comes to Ebix, transaction is funded in cash, using former’s internal cash reserves. The acquisition is expected to be reflected in Ebix earnings immediately.

Harsh Azad, Co-founder and Director Zillious, said that their 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 they will be able to fulfill this vision faster and seamlessly. They at Zillious have been passionately Non-Aligned and independent. In Ebix, they found a partner which was in tune with their core philosophy. This decision will benefit their existing and potential customers immensely, he said.

Rohit Gaddi, Co-founder and Director Zillious, said that 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. Their customers will not only be serviced by the same Zillious teams but will also have access to cutting edge technology on a global level. They remain committed to working with their clients and spearheading the team in the best way possible. They will remain at the helm and lead from the front, he said.

Ebix Chairman of the Board, President and CEO Robin Raina said that 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. They 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 them to do the same in India’s fast-growing travel industry, he said.