London based travel service website Travelfusion was acquired by China’s CTrip for $160 million. The company was founded by Israeli Moshe Rafiah and originally operated out of offices in Israel.
Travelfusion describes itself as a showcase which illustrates the power of the many technologies and products that its global team is constantly developing. Its site serves as a listing of our hundreds of flight and rail suppliers. It promises users that they can find some of the cheapest rail and air fares available.
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“Travelfusion has built a great GDS system for LCCs globally, ” said James Liang, Chairman and Chief Executive Officer of Ctrip, “The strategic relationship we built with Travelfusion will further extend our leadership in China’s international travel market, and enhance the efficiency and effectiveness of our IT system by leveraging Travelfusion’s advanced technology. We are excited to work with Travelfusion’s team to create greater value for our customers.”
“China is expected to be the largest travel market in the world, and Ctrip is the clear leader in the online and mobile travel industry in China. After 15 years of building Travelfusion to be an industry leader, we are thrilled to take further steps to realize and fulfil our potential in such a great market with such a powerful industry leader, ” said Mr. Moshe Rafiah, Chief Executive Officer of Travelfusion.
Ctrip.com International, Ltd. is a travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management in China. It is the largest online consolidator of accommodations and transportation tickets in China in terms of transaction volume. Ctrip aggregates comprehensive travel related information and offers its services through an advanced transaction and service platform consisting of its mobile apps, Internet websites and centralized, toll-free, 24-hour customer service center. Ctrip enables business and leisure travelers to make informed and cost-effective bookings. It also helps customers book vacation packages and guided tours.
In addition, through its corporate travel management services, Ctrip boasts that it helps corporate clients effectively manage their travel requirements.