Trip management service TripIt is being sold to Concur in a deal worth up to $120 million after an initial outlay of $82 million in cash and stock.
The deal was announced in the US this morning and sees a healthy return for the company founded in just October 2006.
Terms of the acquisition state that travel and expense management firm Concur will pay “cash, stock and unvested restricted stock units” immediately, with “additional consideration over time that could bring the total value to $120 million”.
The split is $27 million in cash and another $44 million in Concur stock. The deal is expect to close in Concur’s fiscal year 2011 second quarter.
Read the full story at: http://www.tnooz.com/2011/01/13/news/tripit-sells-to-concur-for-82m-cash-and-stock/
