Chinese group buying website Meituan.com announced that the company has completed the overall acquisition of Kuxun.cn, an online tourism media site under TripAdvisor.
Chen Liang, Meituan's senior vice president and president for the hotel and tourism business group, said that with the acquisition, Meituan will benefit from Kuxun's Internet technology system experience and improve its data capacity related to the Chinese tourism business.
In July 2015, Internet rumors revealed Meituan's full acquisition of Kuxun. It was rumored at the time that the transaction value would be no more than USD100 million, and no further details have yet been revealed on the ultimate purchase price.
Founded in 2006, Kuxun.cn has been focusing on providing accurate real-time information about tickets, hotels, and vacations by using vertical search technologies. Kuxun.cn covers over 200 cities in China. It has one of the largest hotel information database with a search range of over 80,000 hotels, and its tourism business boasts information on over 50,000 tourism destinations.