Expedia To Buy Major Stake In SilverRail

(RTTNews) - Expedia, Inc., (EXPE) Thursday said it has agreed to buy a majority stake in SilverRail. No financial details of the deal were disclosed.

"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," the company said in a statement.

"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.