Employees of the UK's Skyscanner are readying to welcome their new Chinese owners.
Ctrip.com International, Ltd. has agreed to acquire all shares of Skyscanner Holdings Ltd., a U.K.-based global travel search site, for approximately £1.4 billion.
The purchase price consists of cash mainly, with the minority in Ctrip shares and loan notes. The deal has won board approval at both companies and is expected to close by the end of this year.
Skyscanner's current management team will continue to manage the company's operations independently as part of the Ctrip group, the announcement said.
Skyscanner enables users to compare prices from hundreds of travel sites when searching for flights, hotels, and rental cars.
It ranks as one of the top online travel brands based on search interest, serving 60 million monthly active users and available in over 30 languages. It has established leadership in Europe and has a growing presence in Asia Pacific and the Americas.
