In its first major international foray, Le Travenues Technology (the parent company of ixigo) announced on February 13, 2026, that it has approved the acquisition of a 60% majority stake in the Spain-based train ticketing platform Trenes (Online Travel Solutions, S.L.). The deal is valued at €11.70 million (approximately ₹125 crore) and marks ixigo’s strategic entry into the European rail market—often considered the global benchmark for train travel.
The acquisition was executed through ixigo’s wholly-owned subsidiary, IXIGO PTE. LTD., and is expected to be completed by March 31, 2026.
The Deal Structure
The transaction is a mix of primary and secondary investments, positioning Trenes as a step-down subsidiary of ixigo.
| Feature | Details |
| Total Consideration | €11.70 Million (~₹125 Crore) |
| Stake Acquired | 60% Upfront (with an option to buy the remaining 40% later) |
| Additional Investment | €0.45 Million (~₹4.8 Crore) for 45.02% in Sqaas (Spain) |
| Target Completion | March 31, 2026 |
Expanding AI Capabilities: Alongside Trenes, ixigo also acquired a minority stake in Sqaas (Squad As Service, S.L.), a Spanish AI-focused technology firm. This secondary deal aims to accelerate ixigo’s R&D in AI-powered travel software, specifically for the European market.+1
Why Trenes? A Strategic European Foothold
Trenes is currently the second-largest online travel agency (OTA) for train bookings in Spain. The company has seen explosive growth over the last two years as the European rail sector deregulates and shifts toward digital-first booking platforms.
- Financial Performance: Trenes reported operating revenue of approximately ₹60 crore (€5.5M) and a profit after tax of ₹15 crore in CY25.
- Passenger Reach: The platform serves a market that recorded 549 million rail passengers in 2024.
- Synergy Potential: ixigo plans to integrate its proprietary AI-led utility tools—such as PNR confirmation predictions and automated rescheduling—into the Trenes platform to enhance the user experience for European travelers.
ixigo’s Strong Q3 FY26 Results
The acquisition announcement coincided with ixigo’s stellar Q3 FY26 financial results, highlighting a period of robust growth for the Indian travel tech giant.
| Metric (Q3 FY26) | Amount | YoY Change |
| Operating Revenue | ₹317.6 Crore | ↑ 31% |
| Net Profit | ₹24 Crore | ↑ 55% |
| Annual Active Users | 54 Crore+ (FY25) | — |
The company remains nearly debt-free and is utilizing a portion of the $146 million investment it received from Dutch firm Prosus in October 2025 for this inorganic expansion.
A Growing Portfolio of Brands
With the addition of Trenes, ixigo’s portfolio now covers major segments of the travel market across India and Southern Europe.
- ixigo: Flagship app for flights, trains, and buses.
- ConfirmTkt: Niche train booking and prediction app.
- AbhiBus: India’s leading bus ticketing platform.
- Trenes: Gateway to the Spanish and Southern European rail markets.
