Le Travenues Technology Limited has informed the Exchange about Investments / Acquisitions approved by the board of directors of IXIGO PTE. LTD., wholly owned subsidiary of Le Travenues Technology Limited
IXIGO · price
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Ixigo's Singapore-based wholly owned subsidiary, IXIGO PTE. LTD., will acquire a 60% controlling stake in Online Travel Solutions, S.L. (brand: Trenes), Spain's second-largest train online travel agency, for €11.70 million in cash (including non-compete fees). Trenes reported €5.5 million revenue in CY25, up from €1.85 million in CY23. In a second deal, IXIGO PTE. LTD. will subscribe to a 45.02% stake in Squad As Service, S.L. (Sqaas), an early-stage Spain-based AI software company, for €0.45 million. Sqaas reported €366,708 in revenue for FY25. Combined deal value is roughly €12.15 million, with both transactions targeted to close by March 31, 2026. Trenes will become a step-down subsidiary, while Sqaas will be classified as an associate company. Both deals are at arm's length and are not related-party transactions.
This marks Ixigo's first material international expansion into Europe, extending its OTA and AI capabilities to Spain and Southern Europe. Shareholders should view this as a strategic overseas growth move funded by cash, which could support long-term revenue diversification but adds execution and integration risk. The relatively small size of both targets (combined ~€5.9 million in CY25 revenue) means near-term impact on consolidated financials will be modest.