Founded in 2006, redBus currently offers bus ticket booking service through its website, Android app and over the phone across 24 Indian cities. The company claims to offer ticket inventory across more than 12,000 routes from 800 bus operators in the country and has raised around $10 million from investors like SeedFund, Helion Venture partners and Inventus Capital Partners across three rounds.

Besides bus ticketing service, redBus also offers a ‘Software as a Service’ product for bus operators called BOSS (Bus Operator Software Services), which allows bus operators to manage their inventory in real time as well as manage bus schedules, allocate seats to specific agents or branch offices, manage ticket pricing on the service, route and date level and offer online booking on their website through their own payment gateway.

If this acquisition turns out to be true, it will probably strengthen MIH Group’s online travel ticketing venture Goibibo which already offers bus ticketing services along with flight and hotel reservation services. Last year, MIH Group had acquired 51% stake in the Gurgaon-based travel company Tek Travels, which owned a B2B travel portal Travel Boutique Online, which provided white label solutions for agents to offer B2B and B2C travel bookings online.