Concur on Thursday announced an $82 million deal to acquire
mobile itinerary management firm TripIt.
Paid for with a mix of cash, Concur stock and additional
considerations that could increase its total monetary value to $120 million,
the acquisition is expected to close in the current quarter.
According to a press statement, Concur is buying the San
Francisco tech firm, which built is mobile and social offerings around the
travel itinerary, “to bring order to the chaos of travel for both managed and
Concur also indicated that it “not only intends to fully
support and continue TripIt’s offerings, we intend to accelerate innovation in
this product category and expand the company’s reach among more travelers and companies
globally. All TripIt employees are being retained with this acquisition.”