Ctrip Just Bought Skycanner for 12 Billion RMB

Ctrip yesterday announced its acquisition of Skyscanner for USD1.7 billion (roughly RMB12 billion).

The deal is expected to close later this year, the Wall Street Journal reports.

Ctrip is China's largest travel site, and has been making a big push towards international markets, having recently invested in US-based tour operators catering to Chinese travelers.

Under the terms of the acquisition, which values the British-based company at GBP1.4 billion, Skyscanner will continue to run independently under its own management.

Skyscanner had around 22 million users in October, compared to 38.2 million for Ctrip in the same month.

[Image via FT Chinese]