Ctrip buys Skyscanner for $1.7 billion to expand globally

www.bloomberg.com

Ctrip is China's largest online travel firm, while Skyscanner is Europe's largest flight booking site. Skyscanner had put a lot of focus into Asia in recent years to offer more than just Europe, but it was valued at $1.5B in a funding round earlier this year so the exit price could perhaps have been higher -- particularly with a much-excepted IPO likely in 2017. In an interview with Skift, Ctrip's CEO said the deal came together because one of Skyscanner's investors needed to liquidate its assets.

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