Travel aggregator ixigo's board has approved the execution of acquiring a 60 per cent stake in Spain's second-largest train booking platform Online Travel Solutions, for 11.70 million euro. This marks ixigo’s first major international acquisition. The acquisition of Trenes paves the way for ixigo's strategic entry into Europe, widely regarded as the global benchmark for rail travel. It will also help in leveraging Ixigo's product, technology and AI leadership in the European OTA market.
"This investment is expected to create meaningful synergies by bringing together Trenes' strong customer base, brand presence, and local operator integrations with ixigo's AI-led product innovation and technological expertise in solving complex travel use cases at scale. With this acquisition, the company aims to accelerate the Trenes product development, AI reinvention, and improve customer experience to unlock new growth opportunities in Europe," Ixigo said in a statement.
The proposed acquisition will help leverage Ixigo's product, technology and AI leadership in the European OTA market, as Trenes is engaged in the business of providing an online platform for train ticket bookings, primarily catering to the Spanish market, with operations extending to certain other parts of Southern Europe.
The board of directors of Ixigo also approved the acquisition of a 45.02 per cent stake in Squad As Service, S.L., Spain (Sqaas) for a total consideration of 0.45 million euro (over ₹4.83 crore).
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