IXIGO PTE. LTD., the wholly-owned subsidiary of Le Travenues Technology Limited, has approved the acquisition of controlling stakes in two Spanish travel technology firms: Online Travel Solutions, S.L. (Trenes) and Squad As Service, S.L. (Sqaas). The total investment involves €11.70 million for 60% of Trenes, making it a step-down subsidiary, and €0.45 million for 45.02% of Sqaas, making it an associate company. The move aims to leverage ixigo’s technology for the European OTA market.
Strategic Acquisitions in European Travel Sector
Le Travenues Technology Limited (parent of ixigo) announced via its subsidiary, IXIGO PTE. LTD., the approval of two strategic investments in Spain. These acquisitions are intended to bolster ixigo’s product, technology, and AI leadership in the European Online Travel Agency (OTA) market.
Acquisition of Online Travel Solutions, S.L. (Trenes)
IXIGO PTE. LTD. has approved the acquisition of a 60% stake in Online Travel Solutions, S.L. (operating under the brand name Trenes) for a total consideration of €11.70 million, which includes non-compete fees. Trenes is the second largest train OTA in Spain, providing an online platform for train ticket bookings primarily catering to the Spanish market.
- Acquisition Status: Trenes will become a step-down subsidiary of Le Travenues Technology Limited upon completion.
- Transaction Details: Purchase of 6,000 equity shares.
- Financial Snapshot (Trenes): Revenue for CY25 stood at €5,495,850, up from €1,851,869 in CY23.
- Indicative Completion: On or before March 31, 2026.
Acquisition of Squad As Service, S.L. (Sqaas)
Concurrently, the board approved the acquisition of a 45.02% stake in Squad As Service, S.L. (Sqaas) for a total consideration of €0.45 million, inclusive of non-compete fees. Sqaas is described as an early-stage technology and AI company providing solutions with a focus on artificial intelligence-enabled software and related services.
- Acquisition Status: Sqaas will become an associate company of Le Travenues Technology Limited.
- Transaction Details: Subscription to 1,296 equity shares at a face value of €1 per share.
- Financial Snapshot (Sqaas): Turnover for FY 2025 was €366,708.
- Strategic Rationale: The investment aims to enable Sqaas to further harness its AI capabilities and accelerate R&D in AI-powered software.
Corporate Structure Note
It was noted that IXIGO PTE. LTD. is a wholly-owned subsidiary of Le Travenues Technology Limited, which is a professionally managed company without any identifiable promoter or promoter group under current regulations. Both proposed acquisitions are structured as cash consideration transactions and are not considered related-party transactions.
Source: BSE
