Boeing has sold the Journey Planning division of its Jeppesen business to Silverrail Technologies for an undisclosed fee.
The deal is a debut acquisition for three-year-old Silverrail (TLabs here), giving it not only the multi-modal Journey Planner system but also the Integrated Public Transport Information System (IPTIS) technology.
The now much larger SilverRail Group says it will create an "industry first platform for travellers to plan and book complex rail trips in a single purchase".
Boeing decided to split off the IPTIS and the Journey Planner technology from Jeppesen to focus on the core business of providing aviation and marine information logistics and planning software.
SilverRail co-founder and CEO, Aaron Gowell, says:
"This strategic acquisition is game-changing for the industry, as well as an excellent business and cultural fit.
"As an IPTIS customer ourselves, we know the team well and believe combining our vision to create air-like search and booking quality for rail, across regions and around the globe, will be seamless."
SilverRail Group will now have some 60 staff under its belt.
The company has raised a number of investment rounds in its relatively short history, including $10 million in August 2009 from Sutter Hill, Accel Partners, GrandBanks Capital and Brook Ventures; $5 million from Alitmeter director Brad Gerstner and 24 other investors in April 2011; and a further $15 million in March 2012 from Canaan Partners and previous investors.