Skyscanner, an Edinburgh, UK-based global travel search business, is to be acquired by NASDAQ listed travel company Ctrip.
A definitive agreement has been reached between Ctrip and the majority shareholders of Skyscanner, including its largest shareholder, Scottish Equity Partners (SEP), valuing the company at approximately £1.4 billion.
The transaction, which is subject to customary closing conditions, is expected to complete by the end of 2016. Skyscanner’s current management team will continue to manage operations independently as part of the Ctrip group.
Led by Gareth Williams, co-founder and Chief Executive Officer, Skyscanner is a travel metasearch company that enables users to compare prices from hundreds of travel sites when searching for flights, hotels, and rental cars. It generates 60 million monthly active users being available in over 30 languages.
FinSMEs
24/11/2016