New Delhi [India], August 7 (ANI): Le Travenues Technology Ltd, the company that operates AI-based travel app Ixigo, has purchased the business and operations of Hyderabad-based bus ticketing and aggregation platform AbhiBus.

The deal was done as a going concern on a slump sale basis vide a business transfer agreement for a mix of cash and Ixigo stock as consideration.

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The Abhibus team led by founder Sudhakar Reddy Chirra has joined the ixigo team, and all intellectual property, brands, technology and operations are being transferred to Ixigo.

The long-haul inter-city bus market in India is valued at Rs 58,500 crore. Industry reports say AbhiBus is the second-largest bus aggregator in India, selling 26,000 bus tickets per day through its platform.

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The deal will help Ixigo group to consolidate its presence in tier 2, 3 and 4 markets by offering a multi-modal transportation experience across trains, flights and buses to its combined user base of nearly 25.5 crore users.

(ANI)

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