Bellevue-based Concur is making some new buys, announcing today that the maker of travel and expense management has acquired technology solutions from Dallas-based GDSX and Atlanta-based TRX. Terms of the deals were not disclosed. The company labeled the buyout of GDSX as an asset purchase.
“By integrating GDSX and TRX into the Concur T&E Cloud, we will enable seamless linking to suppliers, technology providers, corporations, and travelers,” said Concur CEO Steve Singh. “For our (Travel Management Company) clients, this will help to create efficiency and value throughout the travel ecosystem”
Both companies are leaders in managing and analyzing travel data, an area of intense interest for Concur which also late last year started working with Seattle startup Context Relevant.
Here’s how Concur is describing each of the companies:
—GDSX provides cloud-based tools and services that enable mid-office automation, pre-trip authorization, trip disruption solutions and a centralized trip repository. Their clients use GDSX solutions including COMPLEAT, CETAS and TripLink to reduce costs, increase revenue, simplify chaos, and empower innovation within their organization.
—Through its TRAVELTRAX, CORREX and Queue Manager offerings, TRX offers solutions that greatly enhance TMC efficiency through automation while also providing TMCs with a powerful data and analytics capability for their customers. These products lead to a higher level of service for their customers, while giving corporate travel managers the tools they need to gain increased control and visibility over their managed travel programs.
Concur bought conTgo a few months ago, following a buying spree over the past two years that also included the $120 million purchase of TripIt. It also last year established a $150 million fund — The Perfect Trip fund — to bankroll startups in the online travel arena. The company employs more than 3,000.
Shares of Concur are up more than 30 percent this year, and the company now has a market value just shy of $5 billion. More on the acquisition strategy in this blog post from Singh.
