Bangalore: Bangalore based travel and holiday information platform, HolidayIQ acquires software development company, SourceN’s travel mobile development team for an undisclosed amount. As per the acquisition, SourceN's team will be joining HolidayIQ in order to boost up the company’s mobile capability and construct the most excellent travel app for millions of Indian travelers.
Founded in 2004 by Ajay Ramachandran and Deepak Ramachandran, SourceN provides mobility solutions by constructing and designing mobile applications for iOS, Android and Windows platforms. The company has worked with global brands like Intel, Apple, HP, Dell and SAP.
On the other hand, incorporated in 2006 by Hari Nair, HolidayIQ operates on user generated content which allows travelers to discover and plan holidays and share their experiences. With the rising phenomenon of a smartphone, the company has also launched its mobile application and has recorded over 65 percent of user activity via mobile devices.
Today, the company claims to enclose over 30 lakh members from 80 Indian cities along with 2,000 tourism destinations and 50,000 plus accommodation options in India. The company has also raised four rounds of funding from its existing investors Tiger Global Management and Accel Partners, since 2010.
Commenting on the acquisition, Hari Nair, Founder & CEO, HolidayIQ says, “Mobile is continuing to be the focal point at HolidayIQ and this acquisition is a footstep in that direction. The SourceN team’s in-depth understanding of mobile consumer behavior in travel will further strengthen our product. It will likewise create a robust engine, enabling easier and seamless sharing of travel reviews, ratings, images and videos on mobile. HolidayIQ will continue to make investments in strengthening our mobile capabilities”.