Expense management technology supplier Concur this month announced that it has acquired European competitor Etap-On-Line, doubling its European operations.
Paris-based Etap-On-Line is the provider of the Ulysse Travel & Expense Tool, which has about 200 corporate customers, mostly European and pan-European clients, though the company also recently had opened subsidiaries in the United Kingdom and Canada
(BTNonline, March 18). Concur closed the acquisition on Aug. 1.
Concur president and COO Rajeev Singh said Etap-On-Line customers would have access to the same staff members with whom they previously worked. Now, they also can access Concur's customer base for benchmarking capabilities and best practice audits, he said.
Concur now has operation centers in Paris, London, Prague and Frankfurt. "That increase in size and scope gives us the capacity to deliver greater service on the ground in Europe and make sure that our clients' operations in Europe receive the real-time support they require," Singh said in a video message about the acquisition.
In a quarterly earnings call earlier this month, chairman and CEO Steve Singh said Concur's goal was for European business to comprise 30 percent of its revenues. "We have consistently increased our investment in the EMEA market," he said, "and we have seen those investments yield an increasing percentage of our customers coming from the European market.