Corporate travel company Concur is buying consumer-oriented travel company Hipmunk, it announced via a blog post yesterday. The transaction will be closed next month, and the financial details of the agreement were not disclosed.
Hipmunk was founded in 2010. It is best known for its Agony search, sorting flights and hotels by how much stress they create with the users. Despite raising $55 million and funding, it has been struggling competing with TrpiAdvisor, Trivago and other similar companies.
“We are excited to welcome Hipmunk, the innovation leader in travel search, to the Concur and SAP family,” said Elena Donio, President of Concur.
“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.”
Concur is a SAP company which offers cloud-based services to simplify travel expense management. It connects data, apps and people and offers full spending transparency. The details about how Hipmunk will be integrated into Concur are yet to be worked out.
“This deal brings together two travel technology companies known for their commitments to innovation and creativity. The travel landscape continues to evolve with the pace of technology, a new generation of travelers, and a fluctuating global economy – factors that have a profound impact on how consumer and business travelers behave,” said Henry Harteveldt, Founder of Atmosphere Research. “
This acquisition positions Concur and Hipmunk well to remain both market leaders and disruptors, furthermore, helping them stay ahead of the trend for a more personalized experience in both leisure and business travel.”
Image Credit: Concur