AION Capital acquires InterGlobe Tech for $230 million

BENGALURU:

AION Capital

, a joint venture between global buyout investor Apollo and ICICI Venture, has acquired InterGlobe Technologies (IGT) — the IT and back-office arm of travel conglomerate and IndiGo airline owner InterGlobe Enterprises — for $230 million (Rs 1,600 crore).


TOI had first reported on AION buying InterGlobe Technologies in its edition dated September 18 last year.

Tech Mahindra

and French BPO company WebHelp were among the early suitors who showed interest in IGT. AION Capital later remained the sole contender, gaining exclusivity to make the binding offer. IGT, which has over 60 customers across the travel category, competes with other home-grown tech services companies like NIIT and Accelya that have a sizeable footprint in the travel, cargo and transportation space.

“The management team is excited to partner with AION Capital. We will continue to invest in this sizeable global business, with a focus on a digital transformation within the travel ecosystem,” said IGT CEO Vipul Doshi.

Utsav Baijal, partner with AION Capital, said, “With its strong customer base and deep domain expertise in the travel sector, we believe that IGT is uniquely positioned. We expect IGT will continue to leverage and further strengthen its digital capabilities and global footprint to meet the growing demand for differentiated customer experience.”

IGT was founded in 1998 by InterGlobe Enterprises, one of the world’s largest travel conglomerates. It employs over 10,000 employees across seven countries.