Ctrip buys Skyscanner for $1.7-B
Skyscanner, a U.K. tech firm specializing in offering its customers travel options and price comparisons, has been bought by China’s Ctrip for $1.7 billion.
With Ctrip being China’s biggest online travel company, they are looking for ways to further broaden its reach well beyond its home turf and this was why the purchase has been made. Bloomberg reports that through this acquisition, the Chinese company will help its users by offering a complete array of options that combine air, rail, and road travel.
Skyscanner is a 13-year-old company based in Scotland and China buying it indeed secures them a strong foothold in Europe. According to Ctrip, the deal was done with equity and loans but mainly with cash transaction.
It’s interesting to see how the Chinese company will use this huge acquisition to their advantage and provide better service to its users. To know more about the two companies, head through the source link below.