Expedia Diversifies Portfolio With SilverRail Acquisition
Zacks Investment Research | May 15, 2017 10:29PM ET
Expedia, Inc. (NASDAQ:EXPE) recently announced that it has acquired the majority stake in SilverRail, a rail ticket retailing and distribution platform developer. Notably, SilverRail was already Expedia’s industry partner.
The deal subject to regulatory approval and is expected to close by the middle of this year. Expedia did not reveal the transaction amount.
Established in 2009, London-based SilverRail handles over a billion online rail searches and more than 25 million bookings per year for more than 35 operators and 1 500 corporate customers.
Expedia is Taking Rail More Seriously
Expedia and SilverRail have been in a rail distribution partnership since 2015. Under the agreement, the latter has been powering Expedia’s search and ticketing of rail services. Thus, the acquisition will further strengthen Expedia and add rail to its extensive portfolio of hotel, air and car-related services.
The buyout, which is likely to be supported by Expedia’s successful partnership with SilverRail, will boost the core OTA revenues of the acquirer, going forward. This segment has done well in the last reported quarter with revenues growing 10.4% year over year.
Expedia, Inc. Revenue (TTM)
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