Indian online travel company Ixigo is making its first major international acquisition with a deal to acquire a 60% stake in Spain’s Online Travel Solutions, the company that runs online train ticket booking platform Trenes.com.
The deal, valued at €11.70 million ($14 million), will also mark Ixigo’s entry into Europe. When completed, Trenes will become a step-down subsidiary of the Indian OTA, Ixigo said in a late-night filing with the Indian stock exchanges on Friday. The company also has a contractual right to buy the remaining shares later if certain conditions are met.
The same announcement also includes a smaller purchase, a 45.02% stake in an early-stage technology and AI company Squad As Service (Sqaas) for about €0.45 million ($0.53 million).
The company said the investment will bring together Trenes’ customer base, brand pres
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