Ixigo Advances into Europe with Strategic Acquisitions

Ixigo is set to acquire a 60% stake in Spain's Trenes and a 45.02% stake in Sqaas for over 12 million euros. These acquisitions bolster Ixigo's presence in Europe's train booking and AI software markets, making Trenes a subsidiary and Sqaas an associate company.

In a strategic move to consolidate its position in the European market, travel aggregator Ixigo has announced its acquisition of a 60% stake in Spain's second-largest train booking platform, Online Travel Solutions (Trenes). This transaction, valued at 11.70 million euros (over Rs 125 crore), signifies Ixigo's intent to enhance its influence across the European online travel agency sector.

The acquisition will enable Ixigo to harness its product development, technology strengths, and AI capabilities to cater to the Spanish and Southern European train booking markets. As a result, Trenes will effectively become a step-down subsidiary of Ixigo, broadening its operational domain beyond India.

Simultaneously, Ixigo's board has approved a 45.02% stake purchase in Squad As Service, S.L. (Sqaas) for 0.45 million euros (over Rs 4.83 crore), paving the way for Sqaas to be an associate company. Known for its AI-driven software and technological solutions, Sqaas's acquisition is contingent upon meeting procedural and regulatory formalities in Spain.

(With inputs from agencies.)