Global rail technology leader to join Expedia's family of top
global brands
BELLEVUE, Washington and LONDON, May 11,
2017 /PRNewswire/ -- Expedia, Inc., (NASDAQ: EXPE) and
SilverRail Technologies, Inc., today announced entry into a
definitive agreement in which Expedia® will acquire a majority
stake in SilverRail. SilverRail set out to solve rail's most
challenging technology problems and 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.
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 completion of
the acquisition of the majority ownership interest and the time
frame in which this will occur, as well as 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, the ability of Expedia, Inc. to successfully
implement the agreement, or meet forecasts and other expectations,
as well as other 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. 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.
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,
is headquartered in London, and
has offices in Boston,
Stockholm and Brisbane.
© 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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