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Wings Travels acquires Bookmycab to go places

BENGALURU: BPO ride use provider Wings Travels has sealed a merger of cab aggregator Bookmycab for an undisclosed amount.

The merger is partial of Wings Travels’ devise to strengthen a record and enhance business to 47 some-more cities in India, Myanmar, Thailand, Vietnam and Sri Lanka.

The total entity will be rebranded as Wings Bookmycab. “We have joined synergies to emanate a tellurian record solution,” pronounced Arun Kharat, owner executive of Wings Travels. “For a quick flourishing car let market, innovative record reduces entrance barriers for entering new geographies.”

In Jul final year, there were reports that Chandigarh-based aggregator Jugnoo has acquired Bookmycab though a understanding indeed did not go through. “This is to explain that a understanding with Jugnoo fell by during a final theatre as it was related to their Series-B account raise, that got delayed,” Bookmycab pronounced in a statement.

Wings Travel, that provides ride services to over 10 lakh employees of tip multinational and Indian companies opposite 9 cities, has been deliberation shopping a record association for building a possess mobile app, that would assist a enlargement skeleton into sell and staff transport market, a matter said.

“We were exploring a interest sale and were in talks with several intensity buyers,” pronounced Avinash Gupta, owner of Bookmycab. “I am happy that we have found a profitably run, high expansion company—Wings—as a partner. We are assured about a clever operational horizon and immeasurable knowledge of a new management.”

With this deal, dual of a biggest investors in Bookmycab — YourNest Angel Fund and Contrarian Drishti Partners — have turn a initial outmost investors in Wings. “With this acquisition, we see an event to play a certain purpose to build a poignant billiondollar tech-leveraged travel company,” pronounced Sunil Goyal, CEO during YourNest Angel Fund.

Article source: http://economictimes.indiatimes.com/small-biz/startups/wings-travels-acquires-bookmycab-to-go-places/articleshow/51521341.cms