Bloomberg notes that the Bellevue-based travel expense company is working with SAP on a potential transaction, and previously reached out to Oracle, which has since pulled out of acquisition talks.
Concur beat expectations with GAAP revenue of $178 million in its quarterly earnings report last month, marking an increase of 29 percent from the year-ago quarter. It’s been a busy past couple of months for the 21-year-old company, which added more than 1,000 new customers last quarter and inked partnerships with United, Airbnb and Uber in July.
Back in May, CNBC stock analyst Jim Cramer talked about his optimism for Concur and noted how giants like IBM, Oracle and SAP have not challenged the company.
“The reality is, the market is actually coalescing around Concur and we’re becoming ubiquitous,” Concur CEO Steve Singh told Kramer. “We’re becoming the default solution. There isn’t a lot of competition, but there is competition. We’re driven by how you drag incredible value for the business traveler — if you do that, the reality is both the customers and suppliers and even the competition starts to coalesce around you.”
Here’s a look at the company’s stock over 2014: