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| Skyscanner sold to China travel firm Ctrip in $1.75bn deal | Skyscanner sold to China travel firm Ctrip in $1.75bn deal |
| (35 minutes later) | |
| Skyscanner, the UK-based travel search business, has been bought by Ctrip, China's biggest online travel firm. | Skyscanner, the UK-based travel search business, has been bought by Ctrip, China's biggest online travel firm. |
| The deal values Skyscanner at about £1.4bn ($1.75bn). | The deal values Skyscanner at about £1.4bn ($1.75bn). |
| The firm, which has its headquarters in Edinburgh, is available in more than 30 languages, with about 60 million monthly active users. | The firm, which has its headquarters in Edinburgh, is available in more than 30 languages, with about 60 million monthly active users. |
| It was set up to let users compare prices from different travel sites when searching for flights, hotels, and rental cars. | It was set up to let users compare prices from different travel sites when searching for flights, hotels, and rental cars. |
| Skyscanner said it would continue to run independently, with the same management team. | Skyscanner said it would continue to run independently, with the same management team. |
| 'Powerful technology' | 'Powerful technology' |
| Ctrip was founded in 1999 and is one of China's best-known travel businesses. | Ctrip was founded in 1999 and is one of China's best-known travel businesses. |
| The deal would "strengthen long-term growth drivers for both companies," said James Jianzhang Liang, co-founder and executive chairman of Ctrip. | The deal would "strengthen long-term growth drivers for both companies," said James Jianzhang Liang, co-founder and executive chairman of Ctrip. |
| "Skyscanner will complement our positioning at a global scale and Ctrip will leverage our experience, technology and booking capabilities to Skyscanner's," he added. | "Skyscanner will complement our positioning at a global scale and Ctrip will leverage our experience, technology and booking capabilities to Skyscanner's," he added. |
| Skyscanner was set up in 2003, and co-founder and chief executive Gareth Williams said the deal took his firm closer to its goal "of making travel search as simple as possible for travellers around the world". | Skyscanner was set up in 2003, and co-founder and chief executive Gareth Williams said the deal took his firm closer to its goal "of making travel search as simple as possible for travellers around the world". |
| "Ctrip and Skyscanner share a common view - that organizing travel has a long way to go to being solved. To do so requires powerful technology and a traveller-first approach," Mr Williams said. | "Ctrip and Skyscanner share a common view - that organizing travel has a long way to go to being solved. To do so requires powerful technology and a traveller-first approach," Mr Williams said. |
| The sale comes about a year after Skyscanner announced a fresh round of investment to help it expand. Its backers include investment firm Sequoia as well as the Malaysian government's strategic investment fund, Yahoo Japan and fund manager Artemis. | |
| Shanghai-based Ctrip became China's biggest internet travel service after merging with a similar business, Qunar, last year. That deal gave Chinese internet giant Baidu, which controlled Qunar, a 25% stake in Ctrip. |