Skyscanner to be acquired by Ctrip
Skyscanner, the leading global travel search business headquartered in Edinburgh, 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 Skyscanner 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 Skyscanner’s operations independently as part of the Ctrip group.
James Jianzhang Liang, co-founder and Executive Chairman of 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 travelers around the world with better services. This acquisition will strengthen long-term growth drivers for both companies.”
Gareth Williams, co-founder and Chief Executive Officer of Skyscanner, said: “Ctrip and Skyscanner share a common view – that organising travel has a long way to go to being solved. To do so requires powerful technology and a traveler-first approach. In taking the next step to achieving our goal, Skyscanner will remain operationally independent and our growing global team will continue to innovate and deliver the products travelers know and love. It’s an exciting time for our business, our partners and the travelers who use us.”
Skyscanner is a leading travel metasearch company that 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, generating 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.