AION Capital to acquire InterGlobe’s backend unit for Rs 1,600 crore

AION Capital Partners, the joint venture between global PE fund Apollo Global Management and domestic fund ICICI Venture, is acquiring InterGlobe Technologies (IGT), a leading IT & backoffice arm of travel major InterGlobe Enterprises, for $230 million (Rs 1,600 crore), two people aware of the development said. IGT provides services in the entire spectrum of travel, transportation and hospitality domain globally.

The deal that got signed on Wednesday is expected to be announced later this week.

InterGlobe Technologies manages a number of back-end IT-related tasks for customers in the aviation, travel and hospitality industry, and has operations spread across multiple geographies through its 14 delivery centers. Interglobe Technologies offers integrated IT-BPM (business process management) services comprising application development and maintenance, mobility, contact center services and backoffice services to travel industry globally.


InterGlobe Technologies, which has over 60 customers that are split between its BPO services and tech offerings, competes with players like NIIT Technologies and Accelya. It claims to have also optimised tech for four out of the top 10 hotel chains offering multi-channel customer services across voice and non-voice in over 20 international languages.

IGT is expected to post a revenue of $150 million (Rs 1,000 crore) with an EBITDA margin of 18% in FY19.

Moelis and Avendus are the advisers in the transaction. Billionaire Rahul Bhatia’s interests span across areas like aviation, realty, technology and hospitality. Rahul Bhatia-owned InterGlobe invests in real estate through Inter-Globe Real Estate Ventures Pvt Ltd (IGR). Bhatia has been streamlining his businesses and ran a formal sale process that had seen interests from Tech Mahindra, Everstone and Carlyle among others.