Beijing-based Qunar, an online travel search and services firm controlled by Baidu Inc., is to announce a merger with rival Ctrip.com International Ltd., according to Chinese media reports.
The news of the two parties’ merger talks were first reported in April. Details of the transaction will be announced later today, says the reports.
If announced, the deal will follow several high-profile mergers this year between long-term rivals in China.
Earlier this month, Dianping.com and group discount platform Meituan.com announced a merger. In February, ride share start-ups Didi Dache and Kuaidi Dache combined to form the dominate app-based transportation company in the country.
In June, Qunar just received a strategic investment of US$500 million from private equity firm Silver Lake and another undisclosed investor.
In May, Connecticut-based Priceline Group Inc. agreed to invest an additional US$250 million in Ctrip, following a US$500 million investment made in 2014.