Gurugram, India / Madrid, Spain — Le Travenues Technology Limited, which operates the travel platform ixigo, has announced plans to acquire a majority stake in Online Travel Solutions S.L., a Spain-based online train ticket booking platform, as part of its global expansion strategy.
The acquisition will be executed through ixigo’s wholly owned subsidiary, IXIGO PTE. LTD., which will acquire 60% upfront stake in Trenes for €11.7 million (approximately ₹126 crore). The deal involves the purchase of secondary shares and includes non-compete arrangements. Additional earnout payments may be made in the future, subject to Trenes’ financial performance.
Founded in 2013 and headquartered in Madrid, Trenes is currently the second-largest online travel agency (OTA) for train bookings in Spain, with direct integrations with major rail operators including Renfe, Iryo, OuiGo, SNCF, and Eurostar. The company operates a profitable and capital-efficient business model and has grown steadily without external funding.
Trenes reported revenue of €5.49 million in CY2025, up from €4.28 million in CY2024 and €1.85 million in CY2023. The company also recorded a profit after tax of €1.35 million (approximately ₹14.5 crore) in 2025, reflecting strong growth and operational efficiency.
The acquisition marks ixigo’s strategic entry into the European rail travel market, which is considered the most mature globally. Spain alone has nearly 600 million annual rail passengers, with increasing competition among operators and growing adoption of digital booking platforms.
Following the acquisition, Trenes will become a step-down subsidiary of Le Travenues Technology Limited. The transaction is being funded from proceeds of ixigo’s preferential issue to Prosus in November 2025, which raised approximately ₹1,296 crore. ixigo had earmarked 25% of these funds for acquisitions and strategic investments.
The acquisition is expected to significantly expand ixigo’s international footprint and strengthen its position in the global train booking ecosystem. By combining ixigo’s AI-driven technology platform with Trenes’ established customer base and operator relationships, the company aims to enhance customer experience, expand digital adoption, and unlock new growth opportunities in Europe.
ixigo, which holds a dominant position in India’s train booking segment, views the transaction as a strategic extension of its core expertise into developed international markets, while continuing to focus on growth opportunities in India.