Washington-based Concur Technologies Inc. (CNQR) recently announced a $5 million investment in a leading airfare tracking and hotel rate tracking services provider, Yapta.
The strategic investment allows Concur to gain access to Yapta's airfare price tracking and price assurance services. The company aims at making Yapta's price tracking technology available to its TripIt Pro users and enable them to achieve their deserving airfare savings.
Yapta's technology, which has conducted billions of price checks on million of flights and saved roughly $350 million for travelers, is widely accepted by air travelers.
Concur Technologies is a provider of business services that automate the processes involved in the management of corporate expense. The company streamlines the reimbursement processes, reduces operating costs, improves internal controls, and also allows customers to apply greater insight into their spending patterns through analytics. This eliminates costly and inefficient expenditure in businesses of all sizes.
Earlier, in January 2011, Concur had acquired privately-held TripIt, a company making mobile trip management applications. In addition to helping travelers easily organize and share travel plans, Triplt's open platform integrates applications from partners to provide value for the business traveler on the road.
Concur is slated to release its second quarter 2011 results on July 25, 2011. The current Zacks Consensus Estimate for the second quarter is 10 cents, representing a 23.08% year -over- year decline. Estimate for the fiscal year 2011 is 40 cents and for 2012 is 70 cents.
The company competes with other players in the industry including Compuware Corporation (CPWR), Oracle Corp. (ORCL) and SAP AG (SAP). We currently maintain our Neutral rating on Concur Technologies.
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