Ebix acquires Cox and Kings' business travel division, transfers agreements to Mercury Travel
Some key core employees of Cox and Kings will also be transferred to the EbixCash payroll as part of the agreement.
September 27, 2019 / 09:55 PM IST
EbixCash announced that it has signed an agreement with travel company Cox and Kings for its business travel agreements with corporates in India.
In a press release on September 27, it stated that these travel agreements will be transferred to EbixCash's corporate "Mercury" Travel division.
Some key core employees of Cox and Kings will also be transferred to the EbixCash payroll.
The move is a part of the company's plan to expand its corporate travel segment in India, the release added. EbixCash is the the Indian subsidiary of international supplier of on-demand software and e-commerce services Ebix Inc.
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Naveen Kundu , Managing Director – Mercury Division of EbixCash said, "We are simply transferring the corporate agreements of Cox and Kings to ensure that the customers continue to be well serviced and looked after. Our vast experience, success record in the corporate travel business will be key in servicing the corporates and they shall benefit from our bouquet of travel and technology products."
He added that Cox and Kings had been servicing these corporates using EbixCash's technology platform Zillious. All the employees transferred from Cox and Kings' will now be serviced by EbixCash's Mercury division across the country.
Cox & Kings has in the past few months defaulted on multiple payments of commercial papers.
Earlier this year, Ebix had announced its acquisition of travel company Yatra
through a merger deal. Ebix chief Robin Raina had then said that his company is in the process of building an end-to-end financial enterprise.