Expense management firm Concur acquiring Hipmunk
Monday, 14 Sep, 2016
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Travel and expense management company Concur has announced an agreement to acquire online travel search company Hipmunk.
No figures were disclosed for the purchase but San Francisco-based Hipmunk raised about $20 million in funding in 2014.
It was established in 2010 and offers flight searches and accommodations including conventional hotels and Airbnb rentals.
It searches by price but also by ‘agony’ rating, such as the travel time, number of stops and hotel location, something of key importance to Concur’s business travel clientele.
"Six years ago, our vision was to take the agony out of travel and travel planning. This combination means we can do an even better job for frequent travelers, in both their leisure and business travel," said Hipmunk CEO Adam Goldstein.
SAP owned Concur said it expects the deal to close next month.
"We are excited to welcome Hipmunk, the innovation leader in travel search, to the Concur and SAP family. Concur has always strived to provide the best experience for travelers on our platform and we’re confident Hipmunk will continue to delight consumers while informing the innovation agenda for our corporate clients," said Elena Donio, president of Concur.
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