SILVERRAIL IS NOW OFFICIALLY PART OF THE EXPEDIA FAMILY
Written By Frederic
Expedia, Inc., (NASDAQ: EXPE) and SilverRail Technologies, Inc., today announced that Expedia has completed its acquisition of a majority stake in SilverRail. The acquisition builds on the partnership the two companies have had since 2010 when Egencia®, Expedia’s corporate travel brand, began using SilverRail’s expertise to offer rail inventory in the US. The partnership expanded in 2016 when Expedia.com® announced it would use SilverRail’s technology platform to sell rail tickets through the Expedia.co.uk website. The acquisition broadens Expedia’s breadth of choice of travel products across air, hotel, car rental, cruise, packages and rail through SilverRail’s technology, bringing rail supply online to a global audience.
“We think SilverRail has a very bright future and we are thrilled to welcome its talented team to the Expedia family,” said Dara Khosrowshahi, Chief Executive Officer, Expedia, Inc. “Our primary goal in investing in the online rail revolution is to bring rail supply online, creating an even more diverse and robust product portfolio for our travelers around the world. SilverRail has been a strong partner of ours for years and we look forward to achieving this goal together.”
“Expedia believes in our mission to transform the rail experience and the acquisition by Expedia will make SilverRail bigger, stronger and faster on our march towards revolutionising online rail supply for customers around the world,” said Aaron Gowell, Chief Executive Officer, SilverRail Technologies, Inc. “We are excited at the possibility of leveraging the strategic, financial and operational strength of Expedia, which will be critical to our success.”
About Expedia, Inc.
Expedia, Inc. (NASDAQ: EXPE) is the world’s largest online travel company, with an extensive brand portfolio that includes leading online travel brands, such as:
For corporate and industry news and views, visit us at www.expediainc.com or follow us on Twitter @expediainc.
SilverRail are powering global rail with its next generation retailing and distribution platform.
SilverRail’s technology is purpose built for rail. Our product suite spans the full customer experience: journey planning, inventory management, scheduling, pricing, booking, payment, ticketing, reporting and administration.
SilverCore is the world’s first unified platform for global rail distribution, it connects carriers and suppliers to both online and offline travel distributors.
SilverRail was founded in 2009 by Aaron Gowell and Will Phillipson and has offices in London, Boston, Stockholm and Brisbane.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the expected benefits from completing the transaction. These statements are based on the expectations of Expedia and SilverRail management as of the date hereof and assumptions which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Actual results and the timing and outcome of events may differ materially from those expressed or implied in the forward-looking statements for a variety of reasons, including, among others, as a result of the risks detailed in Expedia, Inc.’s public filings with the Securities and Exchange Commission, including Expedia, Inc.’s most recent Annual Report on Form 10-K and Form 10-Q. Except as required by law, Expedia and SilverRail undertake no obligation to update any forward-looking or other statements in this release, whether as a result of new information, future events or otherwise.
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