India-based online travel platform Ixigo has acquired a majority stake in Spain’s online train and bus ticket provider Trenes.com for almost €12 million.
The acquisition of 60% stake of Online Travel Solutions, which operates under the Trenes brand name, marks Ixigo’s expansion into Europe. Until now, the company has focused mainly on the Indian market.
Ixigo will retain the right to acquire the remaining shareholding in the future, subject to agreed conditions being met.
Just over a year ago, Trainline said it planned to acquire Barcelona-based Trenes for an undisclosed sum, but the deal fell through.
Trenes, which is integrated with Spanish and European rail operators, carried 549 million passengers in 2024 and recorded revenue of roughly €5.5 million in 2025.
A stock exchange notice from Ixigo said “meaningful synergies” are expected from the investment through the combination of Trenes’ customer base and integrations with the Indian online travel agency's “AI-led product innovation and technological expertise in solving complex use cases at scale.”
Ixigo announced funding of $146 million from technology firm Prosus in October, with 25% of the investment earmarked for inorganic growth opportunities. The investment followed Ixigo's public listing in India in 2024.
It has also made a string of acquisitions in the past, including train booking app Confirmtkt and bus operator Abhibus in 2021.