Concur Technologies

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Concur
Subsidiary[1]
Industry Software (Travel & Expense Management)
Founded 1993
Headquarters Bellevue, Washington, United States
Key people
Steve Singh (CEO)
Rajeev Singh, Co-Founder
Michael W. Hilton, Co-Founder
Mike Eberhard, President
Number of employees
4,600+
Parent SAP SE
Website www.concur.com

Concur Technologies is an American SaaS company, providing travel and expense management services to businesses.[2] It is headquartered in Bellevue, Washington.[2] SAP SE agreed to acquire Concur Technologies in September 2014 for $8.3 billion.[2] The deal was completed in December 2014.[1]

Current status[edit]

Concur was co-founded by Steve Singh, its CEO and Chairman of the Board.

The company is headquartered in Bellevue, Washington, with additional offices in Vienna (Virginia), Eden Prairie (Minnesota), Europe, Asia, and Australia.[3]

Some statistics about the company are:

  • It was number 57 on Forbes magazine's 100 Best Small Companies in 2010[4]
  • It was number 2 on CIOZone's 50 Fastest-Growing Software Companies in 2009[5]
  • It was number 28 on Business 2.0's 100 Fastest-growing tech companies list for 2007[6] and number 79 on BusinessWeek's "top 100 small companies to watch"[7]
  • The company was named to the Seattle Times NW 100 ranked at #12 and was previously ranked at #4. To rise to the top of The Seattle Times' rankings, companies must excel over a two-year span on four performance measurements: return on equity, stock-price appreciation, sales per employee and operating income.[8]

On 18 September 2014 it was announced that SAP SE entered into an agreement to acquire Concur in a deal that valued Concur at approximately US$8.3Bn [9]

Controversies[edit]

The company made news in March 2009 when it was uncovered that Steve Singh, its president and CEO, did not graduate from the University of Michigan with an engineering degree as had been previously claimed in corporate filings (until 2007). While Mr. Singh had attended the university, he left before graduation to pursue his entrepreneurial interests.[10] The board of Concur expressed confidence in his abilities and retained Singh in his current positions and said that they continued to have "complete confidence" in him following the disclosure, while expressing "regret that the mistake occurred".[10]

Acquisitions[edit]

The following is a list of acquisitions by Concur:

  • Hipmunk (September 2016)[11]
  • GDSX, TRX (July 2013)[12]
  • conTgo (Mar 2013)[13]
  • TripIt (January 2011)[14]
  • Etap-On-Line (2009)[15]
  • Gelco (2007)[16]
  • Outtask (2006)[17]
  • Captura (2002)[18]
  • Seeker Software (1999)[19]
  • 7Software (1998)[20]

Products[edit]

Concur's on-demand software as a service (SaaS) offerings include:

Concur Travel & Expense
web and mobile solutions for travel and expense management.
TripIt
mobile travel organizer for individuals

In 2013, Concur's iOS app was selected by Apple for "Editor's Choice" category.

Key competitors[edit]

According to a recent report from TechNavio,[21] Concur's key competitors include Chrome River Technologies based in Los Angeles, CA, which was founded by Alan and Harvey Rich and Dave Terry, Oracle, Apptricity, Insperity, Infor Global Solutions, and SutiSoft. A few of these vendors - Oracle, Chrome River and Sutisoft in particular - are focusing on providing integration platforms for end-to-end Software-as-a-service solutions.

Acquisition by SAP[edit]

SAP entered into an agreement to acquire Concur Technologies [22] for US$8.3 billion.[23] The acquisition was completed on December 4, 2014.

See also[edit]

External links[edit]

References[edit]

  1. ^ a b Soper, Taylor (4 December 2014). "Done deal: SAP completes $8.3B acquisition of Concur". GeekWire. Retrieved 1 February 2017. 
  2. ^ a b c Cook, John (18 September 2014). "SAP buying Concur for $8.3 billion". GeekWire. Retrieved 1 February 2017. 
  3. ^ [1]
  4. ^ "#57 Concur Technologies". Forbes. October 14, 2009. 
  5. ^ [2]
  6. ^ Business 2.0 – 100 Fastest-growing tech companies
  7. ^ BusinessWeek, June 4, 2007 – Hot Growth, By Christopher Palmeri – The Shock Of The Old
  8. ^ DeSilver, Drew. "Buyouts reshape region's business". The Seattle Times. 
  9. ^ "SAP to Acquire Concur, Expanding the World’s Largest Business Network". SAP News. 
  10. ^ a b Brennan, Peter J.; Hart, Dan (22 March 2009). "Concur Technologies Board Supports Chairman Singh". Bloomberg. 
  11. ^ Lunden, Ingrid. "Concur buys Hipmunk to add search to its travel and expense management platform". Retrieved 2016-09-21. 
  12. ^ http://www.rttnews.com/2151879/concur-technologies-acquires-gdsx-trx.aspx
  13. ^ http://techcrunch.com/2013/03/11/concurs-travel-shopping-spree-continues-buys-contgo-for-its-travel-based-messaging-platform
  14. ^ http://blog.tripit.com/2011/01/tripit-joins-concur-to-become-bigger-better-and-stronger.html
  15. ^ [3]
  16. ^ "Gelco sold to Concur Technologies". July 30, 2007. 
  17. ^ Concur splurges $88m on Outtask | Software as Services | ZDNet.com
  18. ^ InternetNews Realtime IT News – Concur Technologies Acquires Captura
  19. ^ CONCUR TECHNOLOGIES INC - CNQR Securities Registration Statement (S-1/A) RISK FACTORS
  20. ^ CNET - Portable's new identity
  21. ^ TechNavio identifies Concur Technologies as a Major Vendor in Global SaaS-based Expense Mgmt Market
  22. ^ [4]
  23. ^ [5]