Ixigo Makes Its First Major International Acquisition: What This Means
Photo Credit: Ixigo Co-founders Aloke Bajpai (right) and Rajnish Kumar. Ixigo
Skift Take
Most Indian online travel companies grew around flights. Ixigo grew around trains and buses, segments with thinner margins but massive volume. Europe, unlike many regions, still has a strong rail ecosystem. That makes it one of the few international markets where Ixigo’s core skills are directly relevant.
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
