ixigo’s subsidiary is acquiring 60% stake Trenes for €11.7 Mn (about ₹125 Cr), and 45.02% stake in Sqaas for €450K (₹4.8 Cr)
The OTA stated the acquisition will allow it to export its product, technology and AI-driven travel search capabilities to the European rail market
Notably, Trenes platform is the second-largest train OTA in Spain and reported CY25 revenue of about €5.5 Mn
Travel tech major ixigo’s subsidiary ixigo
PTE has announced its expansion into Europe through two stake acquisitions — Spain-based train OTA platform Trenes and AI company Sqaas.
As per the listed company, the subsidiary is acquiring 60% stake Trenes for €11.7 Mn (about ₹125 Cr ), and 45.02% stake in Sqaas for €450K (₹4.8 Cr). Both transactions are expected to close before March 31, 2026, subject to regulatory approvals.
Founded in 2013, Trenes runs an online platform for train ticket bookings, primarily serving the Spanish market, with a presence in select parts of Southern Europe. As per ixigo, the Trenes platform is the second-largest train OTA in Spain and reported CY25 revenue of about €5.5 Mn, with operations extconcludeing across parts of southern Europe.
The OTA stated the acquisition will allow it to export its product, technology and AI-driven travel search capabilities to the European rail market — a segment structurally similar to India’s intercity rail ecosystem where the company built its core business. It will also retain the option to acquire the remaining stake in the future.
Alongside distribution expansion, the investment in Sqaas is aimed at strengthening AI-led product development. Founded in 2023, the early-stage firm builds AI-powered software solutions. ixigo expects the stake acquisition to accelerate the research and development of innotifyigent travel and automation tools across its platform.
For the fiscal year concludeed in March 2025, the company’s revenue stood at € 366,708 (Around ₹90 Lakhs).
The development comes at a time when ixigo has been able to solidify its profitability in recent quarters. In Q3 FY26, the company recorded a net profit of ₹24 Cr, up 55% from ₹15.5 Cr PAT in the year-ago period. Meanwhile, operating revenue for the quarter under review surged 31% YoY and 12% QoQ to ₹317.6 Cr.
In October 2025, ixigo also announced its plans to raise ₹1,296 Cr from Prosus through a preferential issue on a private placement basis to fuel its growth. Back then, the company stated that a part of these funds will be deployed for some “unidentified acquisitions”.
Shares of ixigo concludeed Friday’s trading session 7.58% lower at ₹196.2.
Leave a Reply