Travel company Expedia has announced it is set to buy a majority stake in SilverRail.
The transaction of SilverRail, which builds digital infrastructure for the global rail industry – such as the rail ticketing platform SilverCore – is expected to be finalised by the middle of 2017.
Expedia chief executive Dara Khosrowshahi said: “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.”
SilverRail Technologies chief executive Aaron Gowell added: “The investment by Expedia will make our business bigger, stronger, and faster in executing current commitments and meeting the demand of new business.
“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 works with more than 35 rail operators from seven countries including DB, Renfe and the Rail Delivery Group.