AION Capital, a joint venture between ICICI Venture and Apollo Global Management has acquired back-end services unit of Indigo airline, Interglobe Technologies (IGT), for an undisclosed amount.
AION Capital has a committed capital of USD 825 million, according to a statement. Its website says its objective is to invest in stressed, distressed and special credit opportunities.
IGT was founded by budget carrier Indigo’s parent Interglobe Enterprises in 1998 and services 70 customers engaged in travel and hospitality globally as a business process management company, an official statement said.
“With its strong customer base and deep domain expertise in the travel sector, we believe that IGT is uniquely positioned,” AION Capital partner Utsav Baijal said.
AION will support IGT in its next phase of growth as the company focuses on accelerating service expansion in current and new verticals in the travel industry, specifically enhancing a travellers digital experience, the statement said.
It employs 10,000 ‘travel experts’ spread across 15 centres in seven, providing services including contact centre, domain driven technology and innovative digital services and solutions like chatbots, travel analytics and social media services.
“We will continue to invest in this sizeable global business, with a focus on digital transformation within the Travel eco-system,” IGT’s chief executive Vipul Doshi said.