China’s Ctrip.com Acquires Online Travel Company Skyscanner in $1.74 billion Deal
Ctrip.com International Ltd , China's biggest online travel company, said on Wednesday it agreed to buy travel search website Skyscanner Holdings Ltd in a deal valuing the Scotland-based company at about 1.4 billion pounds (USD 1.74 billion).
Ctrip's shares were up 9.2 percent at USD 44.75 in extended trading. Skyscanner, a result of CEO and co-founder Gareth Williams' frustration with finding cheap flights, enables users to compare prices from different travel sites when searching for flights, hotels, and rental cars.
The website currently serves 60 million monthly active users and is available in over 30 languages. Skyscanner was reported to be exploring a sale or an initial public offering.
The company was valued at USD 1.6 billion in a funding round in January, when it raised ...