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Global rail technology leader to join Expedia's family of top global brands
BELLEVUE, Wash., USA and LONDON, May 21, 2017: Expedia, Inc., (NASDAQ: EXPE), one of the largest online travel groups globally and owner of brands such as Expedia.com, Hotels.com and Trivago, have announced entry into a definitive agreement with SilverRail Technologies, Inc., the world's first dedicated rail GDS technology provider. Expedia® will acquire a majority stake in SilverRail.
SilverRail's core mission is to solve rail's most challenging technology problems and the company has been an important Expedia industry partner, helping to bring online booking for rail to Expedia's customers.
'Rail is ready for an online revolution, and we're ready to be a part of it. Rail's shift online is one of the fastest growing areas of innovation in the $1.3 trillion travel market, and SilverRail is powering that innovation,' said Dara Khosrowshahi, Expedia, Inc. President and Chief Executive Officer. 'We are tremendously excited to welcome the incredibly talented SilverRail team into the Expedia family.'
'The investment by Expedia will make our business bigger, stronger, and faster in executing current commitments and meeting the demand of new business,' said Aaron Gowell, SilverRail Technologies, Inc. Chief Executive Officer. 'We were looking for an investor and partner that understood our ambitions and was committed for the long term. Expedia is an ideal fit for us, as it sees the huge potential in rail and has a history of keeping its brands nimble.'
SilverRail will remain focused on transforming the consumer experience of rail for carriers, travel retailers, and corporate travel companies. The transaction is anticipated to close in the middle of 2017 pending satisfaction of closing conditions, including approval from the relevant competition authority.
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