Travel management company Concur has signed a definitive agreement to acquire travel search startup Hipmunk, the Bellevue, Washington-based TMC announced Tuesday.
The terms of the deal remain unknown but Concur said the transaction is expected to close next month.
With Hipmunk set to be integrated into the Concur platform, the company's core customer base of business travelers should soon have access to improved search features.
After all, the six-year-old San Francisco-based startup pioneered a website and mobile app capable of sorting travel results based on a variety key factors other than price, many of which are critical to business travelers. For example, Hipmunk's calendar integration and hotel map search allow users to view the best hotels and flights available based on their upcoming meeting time and location.
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"We are excited to welcome Hipmunk, the innovation leader in travel search, to the Concur and SAP family," said Concur president Elena Donio in a statement accompanying Tuesday's announcement. "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."
In his own statement, Hipmunk co-founder and CEO Adam Goldstein said "this combination means we can do an even better job for frequent travelers, in both their leisure and business travel."
According to Atmosphere Research founder Henry Harteveldt, the "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."
The impending acquisition of Hipmunk comes on the heels of Concur's acquisition of TripIt and investment in ClearTrip.
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