Skyscanner acquired by Chinese firm Ctrip for £1.4bn

UK-based travel website Skyscanner is to be bought over by Chinese travel company Ctrip, valuing the business at around £1.4bn.

The company allows users to compare prices for a variety of travel services, such as flights and hotels, and has around 60m active users per month.

Skyscanner said it would continue to be run by the same management team without any overbearing influence from the Chinese company.

Ctrip, which was set up in 1999 and has grown to become one of the biggest travel businesses in China, said that the merger would "strengthen long-term growth drivers for both companies".

"Skyscanner will complement our positioning at a global scale and Ctrip will leverage our experience, technology and booking capabilities to Skyscanner's," said co-founder of Ctrip James Jianzhang Liang.

Skyscanner co-founder and executive chairman Gareth Williams said that the acquisition would make its service easier to use for consumers.

"Ctrip and Skyscanner share a common view - that organising travel has a long way to go to being solved. To do so requires powerful technology and a traveller-first approach," Mr Williams said.

The move comes after Theresa May promised more legislation to stop British companies being acquired by larger global businesses.