Ibibo Group and Pilani Soft Labs, owner of redBus.in have executed a binding agreement for the acquisition, the company said in a statement as reported by the Times of India.
Ibibo is a joint venture between China internet firm Tencent and Naspers.
RedBus is India’s largest bus ticketing platform, issuing 10 million tickets with gross sales nearing $200 million, annually. The group was started by a group of friends in 2006.
Various reports have the deal at between $100 million and $140 million.
Nasper’s principal operations are in internet platforms, pay-television and the provision of related technologies and print media including publishing, distribution and printing of magazines, newspapers and books.