Wings Travels has recently acquired Bookmycab for an undisclosed amount. The acquisition is a strategic move by Wings Travels to strengthen its technology and expand business to 47 more cities in India, Myanmar, Thailand, Vietnam and Sri Lanka. The combined new entity will be re-branded as Wings Bookmycab.
Arun Kharat, founder director of Wings Travels has said, “We have merged synergies to create a global technology solution,….For the fast growing vehicle rental market, innovative technology reduces entry barriers for entering new geographies.”
“This is to clarify that the deal with Jugnoo fell through at the last stage as it was linked to their Series-B fund raise, which got delayed,”
Wings Cabs had been planning on buying a technology company in order to developing its own mobile app, which would aid its expansion plans into retail and staff travel market.
Avinash Gupta, founder of Bookmycab, said, “We were exploring a stake sale and were in talks with several potential buyers,…I am happy that we have found a profitably run, high growth company—Wings—as a partner. We are confident about the strong operational framework and vast experience of the new management.”