ixigo acquires majority stake in Spain's online travel solutions firm for Rs 125 crore

ixigo

• ixigo acquires 60% stake in Spain's Trenes for Rs 125 crore
• Trenes becomes ixigo's step-down subsidiary after the deal
• Acquisition marks ixigo's first major international expansion

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AI-based travel platform ixigo acquired majority stake in Spain-based Online Travel Solutions for Rs 125 crore, the company said in an exchange filing on February 13.

The company's board approved the execution of a binding agreement for a total investment of approximately Rs 125 crore to acquire a majority stake in Spain-based Online Travel Solutions, S.L., which operates under the brand Trenes.com.

As a part of the transaction, ixigo will acquire an upfront majority stake of 60% in Trenes, the second-largest train OTA in Spain, marking a significant milestone in ixigo’s international expansion into Europe.

Following the proposed acquisition of 60% of the paid-up share capital, Online Travel Solutions, S.L. shall become a step-down subsidiary of ixigo. "ixigo shall also have the right to acquire the remaining shareholding at a future date, subject to the fulfilment of agreed conditions," the company added.

Founded in 2013, Trenes is a fast-growing, profitable, founder-owned online train ticket booking platform serving Spain and Southern Europe. The platform is integrated with major Spanish and European rail operators, enabling seamless multi-operator rail bookings. Spain’s rail sector market had 549 million passengers in 2024 and Trenes recorded a revenue of around Rs 60 crore and a Profit After Tax (PAT) of Rs 15 crores in calendar year 2025.

"This marks ixigo’s first major international acquisition and reflects the company’s strategic entry into Europe, widely regarded as the global benchmark for rail travel. 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," the company added.

With this acquisition, the company aims to accelerate the Trenes product development, AI reinvention, and improve customer experience to unlock new growth opportunities in Europe, it further added.