China’s Ctrip acquires Skyscanner
London – 25 November 2016
Ctrip.com International, China’s biggest online travel company, has agreed to buy UK startup Skyscanner Ltd. for about 1.4 billion pounds (US$1.7 billion) to expand its bookings for flights, hotels and rental cars.
The deal will add new geographic regions to its platform. Skyscanner, a 13-year-old company based in Edinburgh, searches through travel options for users and provides price comparisons.
Ctrip said in a statement that the purchase is “mainly” a cash transaction, with the remainder consisting of equity and loans. … Read More