Expedia to Buy Rail Distributor SilverRail Technologies
Skift Take
Expedia recognized some time ago that it needed to wire up rail providers, particularly in Europe and Asia, and now it is securing a technology leader in the space for its portfolio of transportation solutions.
Expedia Inc., which began a distribution partnership last year with London-based SilverRail Technologies, entered into a definitive agreement to acquire the rail-service distributor.
Expedia would take a majority stake in SilverRail. No details on the financials were announced, but one person in a position to know said it was a decent outcome for both investors and SilverRail's management team.
Founded in 2009, SilverRail had raised more than $70 million in funding from venture firms, including Mithril Capital Management and Canaan Partners.
"Rail is ready for an online revolution, and we're ready to be a part of it. Rail's shift online is o
