Indian company ixigo buys 60% of Spain’s Trenes for €11.7M to expand globally.

Indian travel platform ixigo has acquired a 60% stake in Spain’s Trenes, the country’s second-largest train ticket booking platform, for €11.7 million (₹125 crore), marking its first major international expansion. The deal, pending regulatory approval, also includes a 45% stake in Spanish AI tech firm Sqaas for €0.45 million. Trenes, founded in 2013, serves Spain and Southern Europe and reported €5.5 million in revenue and €1.35 million in net profit in 2025. The acquisition aims to strengthen ixigo’s global presence, leveraging Trenes’ rail operator partnerships and customer base while integrating ixigo’s AI-driven technology.