AION Capital buys InterGlobe Technologies
AION Capital says it will support InterGlobe Technologies as it focuses on accelerating service expansion in travel industry
Mumbai: Private equity firm AION Capital Partners Monday said that it has acquired InterGlobe Technologies, a global travel business process management technology and digital services company. AION Capital, an India-focused private equity fund with $825 million in committed capital, was established through a strategic partnership between Apollo Global Management and ICICI Venture.
Apollo is a leading global alternative investment manager with assets under management of approximately $270 billion as of 30 September 2018.
InterGlobe Technologies was founded in 1998 by InterGlobe Enterprises, one of the world’s largest travel conglomerates. InterGlobe Technologies is focused on the travel and hospitality industry and has more than 70 top customers globally.
With a workforce of over 10,000 travel experts spread across 15 centres in seven countries, InterGlobe Technologies provides digital contact centre services, domain driven technology and innovative digital services and solutions including chatbots, robotic process automation, travel analytics and social media services.
“The management team is excited to partner with AION Capital. We will continue to invest in this sizeable global business, with a focus on digital transformation within the Travel eco-system” said Vipul Doshi, chief executive officer at InterGlobe Technologies.
AION will support InterGlobe Technologies in its next phase of growth as the company focuses on accelerating service expansion in current and new verticals in the travel industry, specifically enhancing a traveller’s digital experience, AION said.
“With its strong customer base and deep domain expertise in the travel sector, we believe that InterGlobe Technologies is uniquely positioned. We expect InterGlobe Technologies will continue to leverage and further strengthen its digital capabilities and global footprint to meet the growing demand for differentiated customer experience,” said Utsav Baijal, partner at AION Capital.
- Tesla to cut workforce by 7%, sees smaller profit in Q4
- Wipro spins out govt business as separate segment
- Vibrant Gujarat meet: Ambani, Adani, Birla, others line up big investments
- Wipro announces 1:3 bonus; Q3 net profit rises 30%
- RIL to invest Rs 3 lakh crore in Gujarat in next 10 years : Mukesh Ambani
Editor's Picks »
- What to expect from Q3 results of IndiGo, SpiceJet, Jet Airways
- Forget privatisation, govt has hugged its banks tighter
- Flat profit, rising debt are growing worries for Reliance
- Q3 results: HUL growth off a high base shows it’s on a roll
- DCB Bank Q3 results: Small loans give big pain as farm, mortgages lift delinquencies