BELLEVUE, Washington and
LONDON, June 23, 2017 /PRNewswire/ -- 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 revolutionizing
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:
- Expedia.com®, a leading full-service online travel
brand with localized sites in 33 countries
- Hotels.com®, a leading global lodging expert
operating 89 localized websites in 39 languages with its award
winning Hotels.com® Rewards loyalty program
- Expedia® Affiliate Network (EAN), a global B2B brand
that powers the hotel business of hundreds of leading airlines,
travel agencies, loyalty and corporate travel companies plus
several top consumer brands through its API and template
solutions
- trivago®, a leading online hotel search platform
with sites in 55 countries worldwide
- HomeAway®, a global online marketplace for the
vacation rental industry, which also includes
the VRBO, VacationRentals.com and BedandBreakfast.com brands,
among others
- Egencia®, a leading corporate travel management
company
- Orbitz.com® and CheapTickets.com®,
leading U.S. travel websites, as well as ebookers®,
a full service travel brand with websites in seven European
countries
- Travelocity®, a leading online travel brand in the
U.S. and Canada delivering customer service when and
where our customers need it with the Customer First Guarantee
- Hotwire®, inspiring spontaneous travel through Hot
Rate® deals
- Wotif Group, a leading portfolio of travel brands
including Wotif.com®, Wotif.co.nz, lastminute.com.au®, lastminute.co.nz and travel.com.au®
- Expedia® Media Solutions, the advertising sales
division of Expedia, Inc. that builds creative media partnerships
and enables brand advertisers to target a highly-qualified audience
of travel consumers
- CarRentals.com™, a premier online car rental booking
company with localized sites in 13 countries
- Classic Vacations®, a top luxury travel
specialist
- Expedia Local Expert®, a provider of online and
in-market concierge services, activities, experiences and ground
transportation in over a thousand destinations worldwide
- Expedia® CruiseShipCenters®, a provider
of exceptional value and expert advice for travelers booking
cruises and vacations through its network of over 235 retail travel
agency franchises across North America
For corporate and industry news and views, visit us
at www.expediainc.com or follow us on
Twitter @expediainc.
About SilverRail
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 handles more than 1 billion online rail searches
each year.
- SilverRail distributes tickets for more than 35 providers and
carriers.
- SilverRail processes more than 25 million bookings each
year.
- SilverRail serves more than 1,500 corporate customers
worldwide.
SilverRail was founded in 2009 by Aaron
Gowell and Will Phillipson
and has offices in London,
Boston, Stockholm and Brisbane.
Forward-looking Statements.
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.
© 2017 Expedia, Inc. All rights reserved. Expedia and the
Airplane logo are trademarks of Expedia, Inc. in the U.S. and/or
other countries. All other trademarks are property of their
respective owners. CST# 2029030-50
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