India's Ixigo Acquires Spanish Firm Trenes
Indian online travel agency Ixigo has acquired a 60% stake in Spain-based Trenes for Rs 125 crore. The move signals an aggressive European expansion strategy for the tech-driven travel company and reflects continued consolidation in the sector.
- This acquisition marks Ixigo's first major international foray and a strategic entry into the European market. - The Spanish firm, Online Travel Solutions S.L., operates under the brand name Trenes.com and is the second-largest online train booking platform in Spain. - Interestingly, a year prior, a deal for the acquisition of Trenes.com by Trainline, a competitor, ultimately fell through. - Alongside the Trenes.com deal, Ixigo's board also approved the acquisition of a 45.02% stake in a Spanish entity named Squad As Service, S.L. - This move follows a pattern of growth through acquisition for Ixigo, which previously acquired Indian train booking app Confirmtkt and bus ticketing platform AbhiBus in 2021. - The parent company of Ixigo, Le Travenues Technology Ltd., went public in June 2024, raising funds for strategic initiatives and acquisitions. - In the third quarter of fiscal year 2026, Ixigo reported a 31% year-over-year increase in operating revenue to Rs 317 crore and a net profit of Rs 24 crore. - Trenes.com demonstrated significant activity prior to the acquisition, having transported 549 million passengers in 2024 and generating approximately €5.5 million in revenue in 2025.
