Avendus Capital acts as the financial advisor on the sale of InterGlobe Technologies to AION Capital Partners
Tel: +91 22 6648 0044
InterGlobe Technologies (“IGT”), a leading business process management (“BPM”) and technology services provider that delivers innovative business optimization solutions across the spectrum of Travel, Transportation and Hospitality (“TT&H”) domains and which was a part of the eminent InterGlobe group of companies, has been acquired by AION Capital Partners (the joint venture between global private equity fund, Apollo Global Management (“Apollo”) and ICICI Ventures). AION is Apollo’s primary investment vehicle in India.
Avendus acted as the financial advisor on the transaction to InterGlobe Enterprises and its eventual shareholders.
Founded in 1998, IGT is the largest pure-play TT&H focused, integrated digital services and solutions provider, globally. It caters to a marquee client base, including 4 of the top 5 airlines, 3 of the top 5 online travel agents/travel management companies, 4 of the top 10 hotel chains and 2 of the top 5 cruise lines. IGT has a global delivery footprint, with ~10,000 TT&H experts, spread across 15 centres in 9 countries.
Amit Singh, Co-Head, Enterprise Technology & Services Investment Banking at Avendus Capital, said, “Strong tailwinds in the USD 2 Tn+ (CY18E) TT&H vertical combined with an increased pressure towards outsourcing are expected to drive the growth of IGT’s addressable market at ~8% per annum. Within this, the outsourced digital spend by industry leaders in the space, is expected to grow at ~20%+. As a market leader in the activation of digital channels in the TT&H vertical, IGT is poised to continue its stellar growth momentum”
About Avendus Capital Pvt Ltd
The Avendus Group (Avendus) is a leading provider of financial services with an emphasis on customized solutions in the areas of Investment Banking, Wealth Management, Structured Credit Solutions and Alternative Assets Management. Avendus relies on its extensive experience, in-depth domain understanding and knowledge of the regulatory environment, to offer customized solutions that enable clients to meet their strategic aspirations. Avendus Capital has consistently been ranked among the top investment banks. It has a strong track record of cross-border transactions and has helped multiple clients benefit from opportunities across geographies.
Avendus’s wide range of clients is testimony to its ability to serve its corporate clients throughout their life cycle – from growth stage funding to complex, large sized transactions later in the cycle.
Avendus Capital Inc. and Avendus Capital (UK) Pvt. Ltd. located in New York and London respectively are wholly owned subsidiaries offering M&A and Private Equity syndication services to clients in the respective regions. To learn more, visit www.avendus.com