Travel platform ixigo has announced a deal to acquire Bengaluru based rail booking platform Confirmtkt.
A cash and stock purchase agreement has been signed for an undisclosed amount and Ixigo executives will join the Confirmtkt board.
The two companies will continue operating independently.
“By leveraging our combined user base, resources and tech expertise we will be able to enhance the experience of millions of train travellers in India every day,” said ixigo founders Aloke Bajpai and Rajnish Kumar in a release.
The India rail travel market is worth about $8 billion pre-Covid, with as many as 25 million passengers travelling by train daily.
“We are excited to now join hands with ixigo, whose team and products have created new benchmarks in the travel industry,” Confirmtkt said.
Both ixigo and Confirmtkt are registered IRCTC ticketing partners for online rail bookings.