Ixigo to acquire majority stake in Spanish train booking platform Trenes for ₹125 crore

Celebrating its first major international acquisition, the board of directors of travel aggregator ixigo has approved the signing of binding agreements for the acquisition of a 60 percent stake in Online Travel Solutions, Spain’s second largest train booking platform, for 11.70 million euros. ₹125 crore).

The acquisition of Trenes paves the way for ixigo’s strategic entry into Europe, considered the global benchmark in rail travel.

“This investment is expected to create meaningful synergies by combining 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 Trenes product development, the reinvention of artificial intelligence and enhance customer experience to unlock new growth opportunities in Europe,” Ixigo said in a statement. he said.

The proposed acquisition will help strengthen Ixigo’s product, technology and AI leadership in the European OTA market; Trenes is in the business of providing an online platform for train ticket bookings primarily serving the Spanish market, with operations extending to some other parts of Southern Europe.

Following the acquisition, Online Travel Solutions, SL will become a subsidiary of Ixigo, the regulatory filing said late on Friday.

Ixigo’s board of directors also approved the acquisition of a 45.02 percent stake in Squad As Service, SL, Spain (Sqaas) for a total of 0.45 million euros (approximately 1.5 million euros). ₹4.83 crore).

The total consideration for both acquisitions includes non-compete fees and the authority to sign definitive agreements, subject to completion of procedural formalities and regulatory requirements in Spain.

Following the acquisition, Squad As Service, SL (Sqaas) will become a partner company of Ixigo.

Sqaas is in the business of providing technology-driven solutions, focusing on AI-powered software and related services.