The Drum Awards Festival - Extended Deadline

-d -h -min -sec

China Scotland Skyscanner

Chinese travel company Ctrip buys Skyscanner for $1.7bn

Author

By Charlotte McEleny, Asia Editor

November 24, 2016 | 2 min read

Chinese online travel company Ctrip has acquired Edinburgh-based Skyscanner for $1.7bn, according to reports.

Skyscanner

Skyscanner sells to Ctrip

The deal will give Ctrip a wider geographic scope, outside of Greater China, as Skyscanner’s service helps people find cheap flight tickets in 30 different languages, accounting for around 60m visits a month.

The deal, which will be mostly cash but also shares and loan notes, values the Scottish company at $1.4bn, according to Channel News Asia.

Skyscanner had been courting a sale or IPO over the past year, following a round of funding in January that valued the company at $1.6bn. Investors included Malaysia’s Sovereign fund, Khazanah National, Yahoo Japan Corp. Other backers include Sequoia Capital and Scottish Equity Partners.

The investment from Yahoo Japan resulted in a joint partnership, signaling an intent to grow the business further in Asia.

Ctrip has said that Skyscanner will continue to be run by the management team independently.

China Scotland Skyscanner

More from China

View all

Trending

Industry insights

View all
Add your own content +