Thursday, January 13, 2011

Concur Acquires TripIt

Redmond-based Concur, which develops travel and expense management software, said today that it has agreed to acquire San Francisco-based TripIt, a developer of mobile applications for trip management. Concur said it would pay $82M in cash, stock, and unvested restricted stock units, plus earnout, which could bring the total value of the buy to $120M. TripIt was venture backed by Azure Capital Partners, European Founders Fund, O'Reilly AlphaTech Ventures, and Sabre Holdings, and had raised around $13.1M in venture funding.