Home > Online > Travel and expense tech firms merge to take on Concur

Travel and expense tech firms merge to take on Concur

06/27/2017| 5:02:06 PM| 中文

Travel and expense technology companies Certify, Nexonia, ExpenseWatch and Tallie have merged to create the largest independent company in the space. IDC estimates the market will reach $2.46 billion by 2020.

Travel and expense technology companies Certify, Nexonia, ExpenseWatch and Tallie have merged to create what they are calling the largest independent company in the space.

K1 Investment Management is backing the merger to the tune of $125 million and, in a statement says “additional capital is available for further acquisitions.”

In the short-term the plan for the merged companies is to invest in technology and expand geographically.

According to the statement, the merged entity now sits behind Concur in terms of size.
Concur was acquired by SAP for $8.3 billion in September 2014 and was recently rebranded as SAP Concur.

Technology research company IDC estimates the market for travel and expense management software will reach $2.46 billion by 2020.

Read original article

TAGS: Travel management | America | Concur | merger
©2017 广州力矩资讯科技有限公司 粤ICP备06070077号-2
Tell us more about yourself!