Acquisition · Mobility & Logistics

Yatra acquires corporate travel service Air Travel Bureau

By Startup Enthusiast · 24 July 2017

What they do

Yatra is an online travel platform for air, hotel, holiday, bus and rail bookings

It acquired Air Travel Bureau, a corporate travel management firm, for an undisclosed amount

The combined entity claims to become India's largest corporate travel services platform by gross bookings

Yatra has acquired Air Travel Bureau (ATB), a corporate travel management company.
The acquisition amount has not been disclosed.
ATB was founded in 1962 and provides corporate travel management, MICE (Meetings, Incentives, Conferences, and Exhibitions) and leisure tourism services.
ATB's annual gross bookings are Rs 15 billion.
Yatra was founded in 2006 by Dhruv Shringi, Manish Amin and Sabina Chopra.
Yatra is a NASDAQ-listed company based in Gurgaon.
The boards of both companies have approved the transaction.
The first closing for majority shares is expected by mid-August 2017, and the second closing by Q2 2018.

Yatra claims the combined entity becomes the largest corporate travel services platform in India by gross bookings.
In July 2016, Yatra merged with Terrapin 3 Acquisition Corp. at a $218 million valuation.
In May 2017, competitor MakeMyTrip raised $330 million led by Naspers and Ctrip.
BCCL exited its investment in Yatra earlier in July 2017, selling its stake for about $6 million.