TripActions, a Palo Alto, CA-based business travel and spend management platform, acquired Reed & Mackay, a London, UK-based high-end travel and meetings and events business with global clientele and market reach.
The amount of the deal was not disclosed.
Reed & Mackay is a corporate travel management companby. Following the deal, it will retain its premium brand, employees, led by Fred Stratford, CEO, and tailored service for clients across more than 50 markets. Together, the group will partner to deliver a corporate travel and spend management solution for any company of any size around the globe.
The combined group will manage $5B in travel budget and serve more than 5,000 customers around the world, including leading companies such as Lyft, Nilfisk, Zoom, Lennar, and Springer Nature.
The acquisition accelerates TripActions’ growth path, accelerated by its recent $155m in funding and international growth.
Led by Ariel Cohen, CEO and co-founder, TripActions provides a cloud-based T&E platform that combines tech with travel agency service. Used by more than 4,000 companies globally, the company empowers organizations with real-time data to make business decisions, paired with flexible T&E management tools that enable them to adapt to changing market conditions to keep traveling employees safe, control costs, and save money.
FinSMEs
05/05/2021