Ibibogroup acquisition yourbus undisclosed transaction amount

Indian company Ibibogroup acquired the online bus tracking and analysis service provider Yourbus, the transaction amount was not disclosed.

The Yourbus system (via SMS) provides bus passengers with a reminder of the exact location of the car and can send a report to the bus operator on the location of the car and the estimated time of arrival.

The company implemented the service by installing a GPS device on each bus and integrated it into the SMS Service platform.

The company was founded in 2011 by Rajesh Mallipeddi and Satya Padmanabham.

Yourbus's services will be integrated with Redbus's bus-ticket inventory products in India, Ibibogroup's Indian Ota Goibibo company.

Mallipeddi told Tnooz: "We already have a general framework of integration, but the specifics need to be discussed." ”

Mallipeddi and his team will join Redbus, but Padmanabham will leave the team to run the other cloud data consolidation company Zapstitch it created.

In June 2013, Ibibogroup acquired India's largest online bus ticket booking service website Redbus, the transaction amount is not disclosed (there are rumors about 138 million dollars).

South Africa's media and internet giant Naspers holds a 80% stake in Ibibogroup, while the remaining 20% per cent is owned by Tencent, a Chinese company.

Asked why Yourbus chose to be ibibogroup, rather than redbus, such as Travelyaari, Ticketgoose (recently $3 million trillion). Mallipeddi replied:

"We have worked with Redbus on the integration of the mobile end with the PC, and our cooperation has been very enjoyable." ”

Yourbus is involved in other tourism-related investment projects in Pune, India's Morpheus,morpheus, including Planmy.travel and Padhaaro.