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Travel aggregator Ixigo's board has approved the acquisition of a 60 per cent stake in Spain's second-largest train booking platform Online Travel Solutions (Trenes), for 11.70 million euro (over Rs 125 crore). The proposed acquisition will help leverage Ixigo's product, technology and AI leadership in the European OTA market as Trenes is engaged in the business of providing an online platform for train ticket bookings, primarily catering to the Spanish market, with operations extending to certain other parts of Southern Europe. Consequent to the acquisition, Online Travel Solutions, S.L. will become a step-down subsidiary of Ixigo, it stated in a late-night regulatory filing on Friday. The board of directors of Ixigo also approved the acquisition of a 45.02 per cent stake in Squad As Service, S.L., Spain (Sqaas) for a total consideration of 0.45 million euro (over Rs 4.83 crore). The total consideration for both acquisitions includes non-compete fees and authorisation of the signi
Online travel booking platform EaseMyTrip.com on Wednesday announced venturing into the insurance sector with the launch of its subsidiary EaseMyTrip Insurance Broker Pvt Ltd. The company termed it a "strategic move" to diversify its service portfolio and tap into the insurance market by creating a specialised product to solve customer needs. "The new venture is expected to solidify EaseMyTrip's position in the industry and cater to a Rs 7.9 trillion market with EaseMyTrip's own 20 million userbase," the company said in a regulatory filing. The company's insurance foray comes days after it made headlines for suspending flight bookings to the Maldives in the wake of diplomatic tensions between India and the island nation.