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Chinese company buys Skyscanner for 15 billion

Los AngelesA jet approaches landing as travelers pass through Los Angeles International Airport (LAX) on the day before Thanksgiving in Los Angeles, California, U.S. November 23, 2016. REUTERS/David McNew

China’s biggest travel operator, Ctrip, paid NOK 14.7 billion ($1.7 billion) for the British search-engine, Skyscanner.

The company confirmed the purchase, which was largely paid in cash.

Ctrip is listed on the ‘NASDAQ’ stock-market, and is partly owned by the Chinese search-engine Baidu.

Ctrip, like Skyscanner, is a search engine for flights, hotels and car rentals.

‘Ctrip is the market leader in China, and is a company from whom we can learn a lot’, said Skyscanner CEO, Garth Williams. The company has about 60 million monthly users, most of them in Europe.

 

Source: NTB scanpix / Norway Today

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