Popular Indian travel aggregator Ixigo is all set to acquire 60% of Spain’s second-largest train booking platform, Online Travel Solutions (Trenes), for ₹125 crore. Ixigo’s board of members has proposed that this acquisition will leverage their product, technology, and AI leadership in the European OTA market.
Details of Ixigo Buying 60% of Spain’s Trenes
Ixigo’s 60% acquisition of Online Travel Solutions, S.L. (which operates under the brand Trenes.com) is significant news for the company. Trenes is the second-largest online train ticketing platform in Spain, and its operations also extend to some other parts of southern Europe.
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This became Ixigo’s first major international deal and its strategic entry into Europe.
“This investment is expected to create meaningful synergies by bringing together Trenes’ strong customer base, brand presence, and local operator integrations with Ixigo’s AI-led product innovation and technological expertise in solving complex travel use cases at scale.”
Reports suggest that the acquisition is valued at €11.70 million, which comes near ₹125 crore. It also includes non-compete fees and authorisation of the signing of definitive agreements. The latter is subject to the completion of procedural formalities and regulatory requirements in Spain.
Also, Ixigo has secured the rights to secure the remaining 40% stake of this ticketing platform in the future. However, that is subject to some specific conditions.
Sqaas to Become an Associate Company of Ixigo
Ixigo has also secured the right to acquire the initial 45.02% stake in an early AI-focused technology company, Squad As Service, S.L., Spain (Sqaas), for the future. It is on the total consideration of 0.45 million euros (over ₹4.83 crore).
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This deal would accelerate Sqaas AI software development and AI technology capabilities. The transaction for the acquisitions is expected to be completed by March 31, 2026. Before that, some regulatory formalities need to be completed in Spain.
Once this happens, Trenes will become a step-down subsidiary of Ixigo, while Sqaas will operate as an associate company.