Khazanah takes stake in travel search company Skyscanner
By Digital News Asia January 12, 2016
- Skyscanner secures US$192mil in new round of investments
- Looking at different virtual and geographic marketplaces
THE Malaysian Government’s strategic investment fund Khazanah Nasional Bhd has joined four other parties to invest a total of £128 million (US$192 million) in global travel search engine Skyscanner, for an undisclosed stake.
Artemis, Baillie Gifford, Khazanah Nasional, Vitruvian Partners and Yahoo! Japan now join SEP and Sequoia as Skyscanner’s investment partners, the Edinburgh-headquartered company said in a statement.
The primary investment in Skyscanner will support the company’s strategy and accelerate its rapid growth in the US$500-billion online travel market.
In addition, it expands Skyscanner’s access to additional sources of expertise and different virtual and geographic marketplaces around the world, it added.
Skyscanner said that Khazanah Nasional enjoys excellent access to markets across the Asia Pacific region.
Artemis is a global fund manager that manages more than US$33 billion across a range of funds; Baillie Gifford is an independent investment manager based in Edinburgh; and Vitruvian Partners is a European investor with an interest in online marketplaces.
Yahoo! Japan is already a venture partner in Skyscanner Japan, and this new investment further strengthens this relationship, Skyscanner said.
“Skyscanner has enjoyed high double-digit growth rates for some years now, and has been profitable since 2009,” said Skyscanner chief executive officer Gareth Williams.
“This success is thanks to our 1,200 direct partner relationships, the trust of the 50 million travellers who use us every month, our technology, and the dedication of our teams to deliver the best experience for travellers possible.
“This financing round and our recent new hires allow us to build fantastic further tools for travellers,” he added.
Skyscanner said it was advised throughout the investment process by Goldman Sachs International and Numis Securities Ltd, which acted jointly as financial advisers, brokers and bookrunners in connection with the investment.
The privately-owned company employs over 700 staff and has 10 global offices in Barcelona, Beijing, Budapest, Edinburgh, Glasgow, London, Miami, Shenzhen, Singapore and Sofia.
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