BELLEVUE, Wash., July 16, 2013 /PRNewswire/ -- Concur (Nasdaq: CNQR), the global leader in integrated travel and expense management, today announced it has acquired substantially all of the assets of GDSX, Ltd., a leader in Travel Management Company ("TMC") mid-office technology solutions.
Based in Dallas, GDSX provides cloud-based tools and services that enable mid-office automation, pre-trip authorization, trip disruption solutions and a centralized trip repository. Their clients use GDSX solutions including COMPLEAT, CETAS and TripLink to reduce costs, increase revenue, simplify chaos, and empower innovation within their organizations.
The terms of the transaction were not disclosed. Concur plans to provide updated guidance on July 31, 2013 when it reports financial results for the fiscal 2013 third quarter and conducts its regularly scheduled conference call.
About ConcurConcur is a leading provider of integrated travel and expense management solutions. Through Concur's open platform, the entire travel and expense ecosystem of customers, suppliers, and developers can access and extend Concur's T&E cloud. Concur's systems adapt to individual employee preferences and scale to meet the needs of companies from small to large. Learn more at www.concur.com or the Concur blog. This press release contains forward-looking statements that are inherently uncertain. These forward-looking statements 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 difficulties or delays in connection with the GDSX asset purchase, including the anticipated benefits of the acquisition, or the broader integration of the Concur and GDSX businesses; 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 GDSX offerings; 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 GDSX's offerings; uncertain market acceptance of our combined products and services or future products and services; and the overall level of customer demand for our offerings.