Hogg Robinson Group said it planned to purchase the remaining shares of Spendvision it doesn't already own

from the expense firm's current and former directors and one of its founding shareholders. When the £13.44 million (US$21.3 million) deal—£4.976 million (US$7.8 million) in HRG shares and £8.464 million (US$13.5 million) in cash—is completed later this month, Spendvision COO Shane Bruhns will be named CEO of the subsidiary, headquartered in the United Kingdom with offices in Australia, Japan, New Zealand and the United States. HRG was the majority owner of the 100-person firm and first invested in it in 2004.

CORRECTION, April 4: An earlier version of this report misstated the value of the deal.