Ctrip buys stake in rail ticket firm
Print Edition
ONLINE travel firm Ctrip.com Inc yesterday announced its 100 million yuan (US$16.1 million) purchase of rail ticket search and booking company Sunya.
Nasdaq-listed Ctrip said it had acquired a “controlling stake” in the firm, which operates the popular Smart Travel Ticket smartphone application.
The app will remain active, but the two firms will integrate their customer databases and operating systems, Ctrip said.
The company is keen to move into the rail ticket sector, which is seen as a major growth area.
According to China Railway Corp, the number of train tickets sold in the first half of this year rose 9.1 percent from the first six months of last year to more than 1.2 billion.
The central government operates the 12306.cn ticket booking service, but competition from the private sector is growing.
The purchase of Sunya follows Ctrip’s acquisition in May of smaller rival eLong Inc for about US$400 million.
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