Ctrip.com has signed a definitive agreement to acquire Skyscanner, a global travel search site headquartered in Edinburgh, Scotland. The terms of the acquisition value Skyscanner at approximately £1.4 billion and the purchase consideration consists of cash mainly, the remainder consisting of Ctrip ordinary shares and loan notes. The boards of directors of the Ctrip and Skyscanner have approved the transaction, which is subject to customary closing conditions, and is expected to close by the end of 2016.
Skyscanner’s current management team will continue to manage Skyscanner’s operations independently as part of the Ctrip group.
James Jianzhang Liang, Co-Founder and Executive Chairman, Ctrip said, “Skyscanner is one of the largest travel search platforms in the world. We are excited to welcome Skyscanner into the Ctrip group. Ctrip and Skyscanner share the same passion and dedication in providing travellers around the world with better services. This acquisition will strengthen long-term growth drivers for both companies. Skyscanner will complement our positioning at a global scale, and we will leverage our experience, technology and booking capabilities to help Skyscanner.”
Skyscanner enables users to compare prices from hundreds of travel sites when searching for flights, hotels, and rental cars. It ranks as one of the top online travel brands based on search interest, serving 60 million monthly active users and available in over 30 languages. It has established leadership in Europe and a growing presence in APAC and the Americas.
