Concur Completes Acquisition of Gelco

REDMOND, Wash., October 1, 2007 - Concur (NASDAQ: CNQR), the world's leading provider of on-demand Employee Spend Management services, announced that it has completed the acquisition of privately held H-G Holdings, Inc. and its subsidiaries, including Gelco Information Network, Inc., the owner of Gelco Expense Management (Gelco). Gelco provides a wide range of expense management services to its clients, including ExpenseLink. Concur expects the acquisition to be accretive to pro forma earnings in fiscal 2008.

"Concur remains focused on helping companies of all sizes drive costs out of their businesses while continually delivering increased value and innovation," said Steve Singh, chairman and CEO of Concur. "The acquisition of Gelco enhances Concur’s ability to deliver even greater value to all of our clients by expanding our reach and enhancing scale, enabling us to deliver accelerated innovation. I look forward to working together with Gelco’s talented team and loyal clients as we continue to set the pace as the leader in employee spend management."

Under the terms of the agreement, Concur will pay $160 million in cash for all of the outstanding equity securities of H-G Holdings.  The total amount of the consideration is subject to certain adjustments, escrows, and hold back provisions set forth in the definitive agreement.

About Concur
Concur is the world's leading provider of on-demand Employee Spend Management services. Concur enables organizations to globally control costs by automating the processes they use to manage employee spending. Concur’s end-to-end solutions seamlessly unite online travel booking with automated expense reporting, streamline meeting management and optimize the process of managing vendor payments, employee check requests and direct reimbursements. Organizations of all sizes trust Concur to help them control spend before it occurs while eliminating paper and optimizing supplier relations. Concur's unified approach to managing employee spend delivers a 360° view into all employee expenses, helping companies globally enforce policies and monitor vendor compliance, while delivering unprecedented control and valuable insight. Concur's suite of on-demand services reach millions of employees across thousands of organizations around the world - streamlining business processes, reducing operating costs, improving internal controls and providing enhanced visibility and actionable expense analysis. More information about Concur is available at

This press release contains forward-looking statements that are inherently uncertain. These forward-looking statements, such as the statements made by Mr. Singh, including the anticipated benefits of broader integration of the Concur and Gelco products and services, are based on current expectations and involve many risks and uncertainties that could cause actual results to differ materially from current expectations. Factors that could cause or contribute to actual results differing from current expectations include, but are not limited to: potential delays in market adoption and penetration of our service offerings; potential difficulties associated with our deployment and support of our products and services; our ability to manage expected growth of our service offerings, including those integrating the Gelco expense management service; retention and expansion of customers; continued use and adoption of on-demand services; the scalability of the hosting infrastructure for our integrated service offerings; changes in the level of business travel that may reduce the use of our products and services or inhibit new sales of our integrated products and services; potential difficulties associated with strategic relationships and with development of new products and services, including those incorporating Gelco's offerings; uncertain market acceptance of our combined products and services or future products and services; and the overall level of customer demand for corporate expense management products and services.

Please refer to the company's public filings made with the SEC ( for additional and more detailed information on risk factors that could cause actual results to differ materially from current expectations. Concur assumes no obligation to update the forward-looking information contained in this press release.

All company or product names are trademarks and/or registered trademarks of their respective owners.

ABOUT Concur Team

Concur is a leading cloud-based provider of integrated travel and expense management solutions. Our easy-to-use, Web-based and mobile solutions adapt to each employee’s preferences and scale to meet the needs of companies large and small. No matter what size the organization, we help control costs and save time. The Concur Connect platform allows an entire ecosystem of end users, customers, suppliers, and solution partners to access and extend the Concur T&E cloud, which delivers travel and expense solutions and services otherwise unavailable to them.

View author profile


Concur is a leading provider of integrated travel and expense management solutions. Founded in 1993 on the premise of helping drive costs out of businesses through innovation, Concur’s services are trusted by over 20,000 clients around the globe with around 30 million users. Learn more at

Contact Us

RELATED CONTENTSee all stories
Press ReleaseFebruary 26, 2016
press releases
Concur partners with Gett to streamline business travel experiences


Gett solutions available in the Concur App Center soon


Maidenhead, United Kingdom, February 25, 2016  Concur, the...

Read More

Press ReleaseFebruary 26, 2016
press releases
Business Travel Direct and Concur pioneer technology to reduce unmanaged travel

Maidenhead, United Kingdom, February 24, 2016 – Business Travel Direct has partnered with Concur to pioneer technology solutions to help corporates tackle the perennial problem of travellers booking outside...

Read More

Press ReleaseFebruary 26, 2016
press releases
CTI partners with Concur to enhance expense management offering

Maidenhead, United Kingdom, February 24, 2016 – CTI, the leading regional travel management company, has today announced a partnership with Concur, the global leader in integrated travel and expense management,...

Read More