Spicejet to strengthen its e-commerce platforms
SpiceJet Ltd, India’s second-largest and a Low-cost airline by passengers, has Acqui-hired the team and technology of Travenues, a Bengaluru-based airline technology company that built several innovative products for airline e-commerce.
The deal comes after Travenues signed its first technology partnership with SpiceJet, Gurugram-based ixigo said in a statement. It did not disclose the deal value.
SpiceJet will absorb the technology and team of Travenues, which builds products for airline e-commerce channels.
Travenues was launched in 2019 and a fully-owned subsidiary of ixigo, the AI-based travel app.
SpiceJet is looking to increase its e-commerce platforms and Acqui-hire will support the airline to innovate across multiple technology areas, said chief technology and innovation officer Ashish Vikram.
“There were around 15 people in Travenues and the majority of them have been absorbed by SpiceJet,” an industry source told Moneycontrol. With this Acqui-hire, the technology team of Travenues has joined SpiceJet, which will inherit the airline technology and commerce platform built by Travenues, which specializes in developing customer-engagement platforms, including apps and those used for payments.
Travenues was established in 2019. ixigo was endowed in 2007 and has a user support of 170 million travelers. It aggregates and analyzes travel information such as prices and availability of airlines, trains, buses, and hotels.
It was a ‘strategic decision’: CEO of ixigo
For Ixigo, it was a ‘strategic decision’ to go ahead with the Acqui-hire deal. “At this point, ixigo is focussing on its core OTA business which is bouncing back strongly post the pandemic,” Aloke Bajpai, Co-founder and CEO ixigo, told Moneycontrol in a statement.
The company declined to share further details on the deal size, or the stake percent sold.
Ajay Singh-led SpiceJet ferried 1.89 million passengers in February this year, with a market share of 16.6%. Air traffic has since then been impacted as the unprecedented scale of the COVID-19 pandemic led to lockdowns, disrupted businesses and travel, and rattled world financial markets.
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