Certify, Chrome River Converge For Concur Clash

SAP Concur's rivals are getting bigger. Certify and Chrome River on Tuesday announced a merger resulting in Certify parent K1 Investment Management owning a majority stake in a new holding company. Certify and Chrome River said their combined market value was more than $1 billion. Terms related to the sale of Chrome River by investors including management and Bain Capital Ventures were not disclosed.

At least initially, Certify and Chrome River "will operate independently, with separate management teams focused on support for their existing products," according to a press statement. "The companies will support all existing products and collaborate . . .

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Author: Jay Campbell

Jay Campbell in 2004 created travel business newsletter The Beat, in 2006 co-founded Travel Procurement magazine and in 2010 integrated them with Business Travel News. He served as editorial director until 2013. Jay made his travel industry media debut in 1993 at the Air Travel Journal of Boston while earning his undergraduate degree in journalism at Boston University.

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Alan Tyson
Advisor

So K1 continues to roll up expense reporting providers. Now it’s Chrome River. The real story here is that the story isn’t getting more attention. For example, it’s been nearly two weeks since the announcement — why am I the first to comment here? The Company Dime community certainly isn’t short of opinions. Let’s look at two possible explanations. First, people believe that Concur is so dominant that “resistance is futile.” This outlook is widespread. Originally Concur’s marketing line, it has been taken up by many in the business travel community. Chrome is merging with Certify — to the fatalists… Read more »