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Acquisition of conTgo will enable a range of new services to improve business travel
REDMOND, Wash., March 11, 2013 /PRNewswire/ -- Concur (Nasdaq: CNQR), a global leader in integrated travel and expense management, today announced it acquired privately-held conTgo, a leading cloud-based mobile communications and messaging platform for the global travel industry. conTgo, based in the UK and Australia, provides its communication platform to corporate customers and TMCs.
conTgo adds comprehensive location-based services with advanced mobile communications and messaging capabilities to Concur's offerings, extending the value of the Concur T&E Cloud for partners, suppliers and clients alike.
Concur expects to leverage conTgo's market-leading technology to provide a range of new services designed to optimize the traveler experience. By using itinerary data and location information with insight and context from past behavior, Concur and Concur T&E Cloud partners will have the technology and capability to deliver applications that can:
"We continue to seek out game-changing technologies that enhance the business travel experience and advance our vision for the Perfect Trip," said Michael Hilton, EVP of Product Strategy at Concur. "The conTgo team developed an award-winning solution for companies to track, locate and communicate with employees regardless of their location. Working together with the Concur ecosystem of application developers, customers, and suppliers, we plan to deliver a variety of new location-based applications that benefit companies and their travelers alike."
"We are excited about this perfect fit of both technology and culture between our companies," said conTgo founders Henrik Conradsen and Johnny Thorsen, who join Concur in new senior management roles. "We will continue to deliver duty of care offerings to our customers and partners and plan to use our award-winning technology for new services that support Concur's vision of The Perfect Trip."
Concur customers worldwide can immediately enhance their existing corporate travel booking and expense management solutions with the addition of conTgo's award-winning duty of care solutions and the Concur Locate and Alert offering, which will leverage the conTgo platform. The combined solutions will be the only duty of care solutions on the market to monitor travel regardless of the source of booking – supporting the trend of Open Booking.
The terms of the acquisition were not disclosed. Neither the financial terms nor the revenue impact of the conTgo business are material to the Company's business outlook for fiscal 2013. Due to increased operating costs related to acquired headcount, the company expects modest dilution to its expected non-GAAP operating margin range for Fiscal 2013 and expects the acquisition to be neutral to accretive to non-GAAP operating margin in Fiscal 2014.
Concur is a leading provider of integrated travel and expense management solutions. Through Concur's open platform the entire travel and expense ecosystem of customers, suppliers, and developers can access and extend Concur's T&E cloud. Concur's systems adapt to individual employee preferences and scale to meet the needs of companies from small to large. Learn more at www.concur.com or the Concur blog.
This press release contains forward-looking statements that are inherently uncertain. These forward-looking statements, such as the statements made by Messrs. Hilton, Conradsen, and Thorsen, are based on current expectations and involve many risks and uncertainties that could cause actual results to differ materially from current expectations. Factors that could cause or contribute to actual results differing from current expectations include, but are not limited to: potential difficulties or delays in connection with the conTgo acquisition, including the anticipated benefits of the acquisition, or the broader integration of the Concur and conTgo businesses; potential delays in market adoption and penetration of our service offerings; potential difficulties associated with our deployment and support of our products and services; our ability to manage expected growth of our service offerings, including those integrating the conTgo offerings; retention and expansion of customers; continued use and adoption of on-demand services; the scalability of the hosting infrastructure for our integrated service offerings; changes in the level of business travel that may reduce the use of our products and services or inhibit new sales of our integrated products and services; potential difficulties associated with strategic relationships and with development of new products and services, including those incorporating conTgo's offerings; uncertain market acceptance of our combined products and services or future products and services; and the overall level of customer demand for our offerings.
Please refer to the company's public filings made with the SEC (http://www.sec.gov) for additional and more detailed information on risk factors that could cause actual results to differ materially from current expectations. Concur assumes no obligation to update the forward-looking information contained in this press release.
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