Business travel service Concur has acquired travel booking startup Hipmunk, bringing on board additional resources to help companies manage employee flight and hotel bookings. Terms of the deal were not disclosed, but it’s reported that Hipmunk will remain operational after the transaction closes in October.
Speaking of the deal, first reported by Skift, Concur executive vice president of travel Tim MacDonald described Hipmunk’s addition to the SAP family as an effort to “improve Concur’s proposition to frequent business travelers through learnings from Hipmunk.” SAP acquired Concur in 2014 for $8.3 billion.
Concur is adding additional travel offerings to its suite of tools, combining Hipmunk’s multi-flight and hotel search with its own tools for managing business expenses, as well as travel management offerings via its TripIt acquisition.
“We are excited to welcome Hipmunk, the innovation leader in travel search, to the Concur and SAP family,” said Concur president Elena Donio. “Concur has always strived to provide the best experience for travelers on our platform, and we’re confident Hipmunk will continue to delight consumers while informing the innovation agenda for our corporate clients,” Donio added.
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Hipmunk had raised nearly $55 million in funding since its founding in 2010. Investors in the Y Combinator company include Ignition Partners, Institutional Venture Partners, Nokia Growth Partners, Oak Investment Partners, SV Angel, Webb Investment Network, and a bevy of angels, such as Automattic’s Matt Mullenweg and actor Ashton Kutcher.
“Six years ago, our vision was to take the agony out of travel and travel planning,” said Adam Goldstein, cofounder and CEO of Hipmunk. “This combination means we can do an even better job for frequent travelers, in both their leisure and business travel.”
Hipmunk’s competitors include Orbitz, Kayak, Expedia, and Travelocity.
Neither Hipmunk nor Concur immediately responded for comment.
