Concur Technologies
| Industry | Software (Travel & Expense Management) |
|---|---|
| Founded | 1993 |
| Headquarters | Bellevue, Washington, United States |
Key people |
Steve Singh, CEO Rajeev Singh, Co-Founder Michael W. Hilton, Co-Founder Mike Eberhard, President |
Number of employees | 4,600+ |
| Parent | SAP SE |
| Website | www.concur.com |
Concur Technologies is an American travel management company, providing travel and expense management services to businesses. It is headquartered in Bellevue, Washington.[1] Concur entered into an agreement to be acquired by SAP SE in September 2014 for $8.3 billion.[2] The acquisition was completed on December 4, 2014.
Current status
Concur was co-founded by Steve Singh, its CEO and Chairman of the Board.
The company is headquartered in Bellevue, Washington, with additional offices in Vienna (Virginia), Eden Prairie (Minnesota), Europe, Asia, and Australia.[1]
Some statistics about the company are:
- It was number 57 on Forbes magazine's 100 Best Small Companies in 2010[3]
- It was number 2 on CIOZone's 50 Fastest-Growing Software Companies in 2009[4]
- It was number 28 on Business 2.0's 100 Fastest-growing tech companies list for 2007[5] and number 79 on BusinessWeek's "top 100 small companies to watch"[6]
- The company was named to the Seattle Times NW 100 ranked at #12 and was previously ranked at #4. To rise to the top of The Seattle Times' rankings, companies must excel over a two-year span on four performance measurements: return on equity, stock-price appreciation, sales per employee and operating income.[7]
On 18 September 2014 it was announced that SAP SE entered into an agreement to acquire Concur in a deal that valued Concur at approximately US$8.3Bn [2]
Controversies
The company made news in March 2009 when it was uncovered that Steve Singh, its president and CEO, did not graduate from the University of Michigan with an engineering degree as had been previously claimed in corporate filings (until 2007). While Mr. Singh had attended the university, he left before graduation to pursue his entrepreneurial interests.[8] The board of Concur expressed confidence in his abilities and retained Singh in his current positions and said that they continued to have "complete confidence" in him following the disclosure, while expressing "regret that the mistake occurred".[8]
Acquisitions
The following is a list of acquisitions by Concur:
- Hipmunk (September 2016)[9]
- GDSX, TRX (July 2013)[10]
- conTgo (Mar 2013)[11]
- TripIt (January 2011)[12]
- Etap-On-Line (2009)[13]
- Gelco2(07[14])
- Outtask (2006)[15]
- Captura (2002)[16]
- Seeker Software (1999)[17]
- 7Software (1998)[18]
Products
Concur's on-demand software as a service (SaaS) offerings include:
- Concur Travel & Expense
- web and mobile solutions for travel and expense management.
- TripIt
- mobile travel organizer for individuals
In 2013, Concur's iOS app was selected by Apple for "Editor's Choice" category.
Key competitors
According to a recent report from TechNavio,[19] Concur's key competitors include Chrome River Technologies based in Los Angeles, CA, which was founded by Alan & Harvey Rich as well as Dave Terry, Ariba(SAP), IBM, Oracle, Apptricity, Cybershift, Insperity, Infor Global Solutions, and SutiSoft. A few of these vendors - Oracle and Sutisoft in particular - are focusing on providing integration platforms for end-to-end SaaS solutions.
Acquisition by SAP
SAP entered into an agreement to acquire Concur Technologies [20] for US$8.3 billion.[21] The acquisition was completed on December 4, 2014.
See also
External links
References
- 1 2
- 1 2 "SAP to Acquire Concur, Expanding the World's Largest Business Network". SAP News.
- ↑ "#57 Concur Technologies". Forbes. October 14, 2009.
- ↑
- ↑ Business 2.0 – 100 Fastest-growing tech companies
- ↑ BusinessWeek, June 4, 2007 – Hot Growth, By Christopher Palmeri – The Shock Of The Old
- ↑ DeSilver, Drew. "Buyouts reshape region's business". The Seattle Times.
- 1 2 Brennan, Peter J.; Hart, Dan (22 March 2009). "Concur Technologies Board Supports Chairman Singh". Bloomberg.
- ↑ Lunden, Ingrid. "Concur buys Hipmunk to add search to its travel and expense management platform". Retrieved 2016-09-21.
- ↑ http://www.rttnews.com/2151879/concur-technologies-acquires-gdsx-trx.aspx
- ↑ http://techcrunch.com/2013/03/11/concurs-travel-shopping-spree-continues-buys-contgo-for-its-travel-based-messaging-platform
- ↑ http://blog.tripit.com/2011/01/tripit-joins-concur-to-become-bigger-better-and-stronger.html
- ↑
- ↑ "Gelco sold to Concur Technologies". July 30, 2007.
- ↑ Concur splurges $88m on Outtask | Software as Services | ZDNet.com
- ↑ InternetNews Realtime IT News – Concur Technologies Acquires Captura
- ↑ CONCUR TECHNOLOGIES INC - CNQR Securities Registration Statement (S-1/A) RISK FACTORS
- ↑ CNET - Portable's new identity
- ↑ TechNavio identifies Concur Technologies as a Major Vendor in Global SaaS-based Expense Mgmt Market
- ↑
- ↑