Indian travel aggregator Ixigo is making its first major international foray by acquiring a majority stake in Spain’s second-largest train booking platform, Trenes, signaling a strategic entry into Europe’s rail travel market. The company’s board has approved the purchase of a 60% stake in Online Travel Solutions, S.L., for €11.7 million (over ₹125 crore).
The move positions Ixigo to tap into Europe’s highly developed rail network, often seen as a global benchmark for train travel. By combining Trenes’ established customer base and local operator partnerships with Ixigo’s AI-driven technology and product innovation, the acquisition is expected to generate significant synergies.
“This investment is expected to create meaningful synergies by bringing together Trenes’ strong customer base, brand presence, and local operator integrations with Ixigo’s AI-led product innovation and technological expertise,” Ixigo said in a statement. “We aim to accelerate Trenes’ product development, AI reinvention, and improve customer experience to unlock new growth opportunities in Europe.”
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Strengthening European Operations
Trenes primarily serves the Spanish market, with operations extending to parts of Southern Europe. Post-acquisition, Online Travel Solutions, S.L. will operate as a step-down subsidiary of Ixigo. The deal also allows Ixigo to leverage its AI, technology, and product leadership to enhance Trenes’ offerings in the European online travel agency (OTA) market.
Strategic Investment in Squad As Service
In parallel, Ixigo’s board approved the acquisition of a 45.02% stake in Squad As Service, S.L. (Sqaas) for €0.45 million (over ₹4.83 crore). Sqaas, an AI-focused technology solutions provider, will become an associate company of Ixigo after the acquisition.
The total consideration for both acquisitions includes non-compete fees and authorizes the signing of definitive agreements, pending regulatory approvals and completion of procedural formalities in Spain.
This dual acquisition underscores Ixigo’s ambition to expand its footprint beyond India and strengthen its technological capabilities while entering the competitive European travel market.