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Concur Expands Internationally With GlobalExpense Acquisition

By on July 6, 2011 in General with 0 Comments

concur travel expenseAccording to Zach’s Equity Research, details of Concur’s acquisition of London-based GlobalExpense have been released.  The acquisition is for £12 million, which is approximately $19.5 million.  In addition, there are performance incentives that could pay out up to £2 million ($3.3 million).

Zach’s Equity Research states “With this acquisition, the company expects to capture the travel and expense management market in Europe. Furthermore, GlobalExpense’s strengths in receipt validation, VAT and income tax compliance, and wide knowledge of UK tax legislation will also support Concur’s extended services offerings.”

The full article from Zack’s Research may be found at:
http://www.zacks.com/stock/news/54854/Concur+Buys+GlobalExpense

Concur’s official announcement may be found at:
http://www.concur.com/en-us/media-resources/press-releases/07-05-11

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