Ixigo acquires train booking app Confirmtkt
AI-based travel app ixigo recenty announced it's acquisition of train ticket booking app Confirmtkt by entering into a share purchase agreement to acquire 100% shareholding of Confirmtkt for an undisclosed amount across a mix of cash and ixigo stock. As part of the deal, the founders of ixigo will join the Confirmtkt board with exit of all the investors. Both companies will continue to run independently, post this acquisition.
"ixigo and Confirmtkt founders both share the passion and focus to grow the train utility and ticketing space. Confirmtkt has built an innovative and high growth company with a great product-market fit and laser sharp focus on train related use-cases. 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's co-founders.
“The combined entity will have a scale of 35 million monthly active users, and our endeavour in the coming year will be to drive faster growth and deeper penetration in the ‘next billion user’ segment,” the founders added.