United Kingdom
United States
Asia Pacific
Direct Travel acquired by Concur founder
Colorado-based corporate travel management company Direct Travel Inc has new owners.
The founder of Concur Steve Singh has led a group of partners to purchase the TMC.
Direct Travel was founded over a decade ago and generates about $300 million in annual revenue.
It has a workforce of 1,800.
SAP acquired Concur for $8.3 billion in 2014.
Ex SAP Concur chief revenue officer Christal Bemont is the new Direct Travel CEO.
Singh will be the corporate travel management firm’s executive chairman.
Investors partnering in the acquisition of Direct Travel are Durable Capital Partners, Madrona, Top Tier Capital Partners, and Blackstone Credit & Insurance.
No financial details of the deal have been disclosed.
The acquisition, announced Tuesday, has gone through regulatory review and been finalized.
Direct Travel will collaborate closely with three travel tech firms: Spotnana, expense management platform Center; and Troop, a group meetings and events company.
Singh is executive chairman at all three firms.
Related News Stories: American Airlines set to start nonstop Tokyo flight from JFK … Ecommpay – TravelMole Korean Air-Asiana merger gets EU approval – TravelMole Six Flags shareholders vote to approve Cedar Fair merger Hays Travel Scott Dunn opening second US office Intrepid Travel – TravelMole Japan grants approval for Korea airline merger – TravelMole Booking.com takeover of eTraveli blocked by EU Palladium Hotel Group Announces New Projects Following A Year …
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
Florida’s Tourism Boom: Dana Young Analyzes Surge in UK Visitors
Elliott Ferguson’s Vision: Elevating Washington DC’s Global Appeal
Empowering Travel Agents and Tour Operators: A Conversation with Go Nexus Group President
Expedia TAAP incorporates AI for their 100,000 registered agents
Travefy CEO & Founder Talks About Their Itinerary Management For Travel Professionals
MMGY’s Jonathan Sloan: A Tale of Triumph Amidst Adversity
Unlocking Opportunities: Viator Empowers Travel Agents with Innovative Tools and Expansive Offerings
BA flight attendant taken off duty after boozy altercation
Passenger attempts suicide on Bangkok-London flight
Virgin Voyages cracks down on agents’ shady sales tactics
Ship crew member arrested after stabbing attack
Report: Viking Sky outage could have been ‘one of the worst disasters at sea’