<p>Travel app ixigo has entered into a definitive share purchase agreement to acquire 100 per cent shareholding of Bengaluru-based online train discovery and booking platform Confirmtkt for an undisclosed amount across a mix of cash and ixigo stock.</p>.<p>The founders of ixigo will join the Confirmtkt board and existing investors of Confirmtkt, including Venture Catalysts, will be exiting the company fully as a part of the deal, ixigo said in a statement on Thursday.</p>.<p>Both companies will continue to run independently, post this acquisition.</p>.<p>Both ixigo and Confirmtkt are official IRCTC B2C premium ticketing partners for online train reservations in India.</p>.<p>"This deal will help the group to consolidate its presence in Tier 2/3/4 markets with its combined user base of nearly 200 million Indians", the statement said.</p>.<p>Aloke Bajpai and Rajnish Kumar, Co-Founders, ixigo, said: "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."</p>.<p>Confirmtkt was established in 2015 by Dinesh Kumar Kotha and Sripad Vaidya.</p>.<p>The company recorded a revenue of Rs 21.4 crore and an operating profit of Rs 1.54 crore in FY20.</p>.<p>The app has over 20 million downloads, the statement added.</p>
<p>Travel app ixigo has entered into a definitive share purchase agreement to acquire 100 per cent shareholding of Bengaluru-based online train discovery and booking platform Confirmtkt for an undisclosed amount across a mix of cash and ixigo stock.</p>.<p>The founders of ixigo will join the Confirmtkt board and existing investors of Confirmtkt, including Venture Catalysts, will be exiting the company fully as a part of the deal, ixigo said in a statement on Thursday.</p>.<p>Both companies will continue to run independently, post this acquisition.</p>.<p>Both ixigo and Confirmtkt are official IRCTC B2C premium ticketing partners for online train reservations in India.</p>.<p>"This deal will help the group to consolidate its presence in Tier 2/3/4 markets with its combined user base of nearly 200 million Indians", the statement said.</p>.<p>Aloke Bajpai and Rajnish Kumar, Co-Founders, ixigo, said: "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."</p>.<p>Confirmtkt was established in 2015 by Dinesh Kumar Kotha and Sripad Vaidya.</p>.<p>The company recorded a revenue of Rs 21.4 crore and an operating profit of Rs 1.54 crore in FY20.</p>.<p>The app has over 20 million downloads, the statement added.</p>