Nasdaq-listed Concur, a leading provider of integrated travel and expense management solutions, has got into a strategic alliance with privately held online travel portal Cleartrip. The arrangement between the duo consists of both a marketing partnership and a $40 million strategic investment for a minority interest in Cleartrip. This alliance, according to company management, aligns with Concur’s strategic initiatives to expand customer base while also entering new geographies, including Concur’s new operations in India.
According to Steve Singh, chairman and chief executive officer, Concur, The Indian economy is fueling a travel sector that is expected to grow to over $20 billion by 2012. "As a global technology provider, we understand that it’s critical to focus on the local needs of each market in which we operate. In partnership with Cleartrip, Concur plans to leverage the synergies of our combined technologies to help us expand our offerings, extend our reach, and make business travel easier for the millions of travelers in India,” he said. Concur is a leading provider of integrated travel and expense management solutions for companies of all sizes. Concur’s easy-to-use web-based and mobile solutions help companies and their employees control costs and save time.
Launched in July 2006, Cleartrip is one of the leading online travel companies in India. Sandeep Murthy, chairman, Cleartrip considers this partnership with Concur as a strategic opportunity that will provide enhanced benefits to the Indian business travel market. "We have built a broad and loyal base of customers who value our simple and smart approach to travel. With a strategic partner in the form of Concur, we will together drive this dynamic category, by helping Indian businesses of all sizes achieve new levels of efficiency in travel and expense management, through enhancements in technology and product offering as well as superior service."
According to Steve Singh, chairman and chief executive officer, Concur, The Indian economy is fueling a travel sector that is expected to grow to over $20 billion by 2012. "As a global technology provider, we understand that it’s critical to focus on the local needs of each market in which we operate. In partnership with Cleartrip, Concur plans to leverage the synergies of our combined technologies to help us expand our offerings, extend our reach, and make business travel easier for the millions of travelers in India,” he said. Concur is a leading provider of integrated travel and expense management solutions for companies of all sizes. Concur’s easy-to-use web-based and mobile solutions help companies and their employees control costs and save time.
Launched in July 2006, Cleartrip is one of the leading online travel companies in India. Sandeep Murthy, chairman, Cleartrip considers this partnership with Concur as a strategic opportunity that will provide enhanced benefits to the Indian business travel market. "We have built a broad and loyal base of customers who value our simple and smart approach to travel. With a strategic partner in the form of Concur, we will together drive this dynamic category, by helping Indian businesses of all sizes achieve new levels of efficiency in travel and expense management, through enhancements in technology and product offering as well as superior service."
No comments:
Post a Comment