SAP's (SAP) Concur Completes Acquisition of Hipmunk

October 3, 2016 4:32 PM EDT

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Concur, an SAP (NYSE: SAP) company, today completed its acquisition of Hipmunk, the leader in travel search and personalized travel planning for frequent travelers.

The Hipmunk team and its innovative technologies bolster Concur's strategy to deliver consumer-grade travel solutions to corporate customers. As part of Concur, Hipmunk will continue to offer its metasearch products to consumers free of charge.

"Concur is committed to offering products travelers want to use," said Tim MacDonald, executive vice president, Concur. "With Hipmunk on board, Concur will be able to accelerate our ability to deliver consumer-grade experiences to the enterprise by learning what works well in the consumer space."

Hipmunk was the first to focus squarely on the frequent traveler and allow consumers to sort travel search results by key factors such as trip duration, stops and hotel location. The company built on this user-first approach with industry-leading calendar integration and hotel map search capabilities that allow business travelers to view options based on meeting time and location. More recently, Hello Hipmunk launched as a personalized travel planning virtual assistant powered by artificial intelligence.

"With Concur's support, we can continue to innovate while also increasing our reach," said Adam Goldstein, co-founder of Hipmunk. "As part of the Concur family, we're excited to further our goal of taking the agony out of frequent travelers' lives."

The Hipmunk acquisition is a step in Concur's long-standing strategy of partnering, investing, acquiring and fostering innovation with consumer companies such as TripIt, ClearTrip and Table8 to deliver better experiences to business travelers.



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