Travel and expense management specialist Emburse has acquired reshopping company TRIPBAM.
The financial terms of the agreement were not disclosed but a spokesperson confirmed that all of TRIPBAM’s 36 employees will join Emburse.
It means Emburse’s 18,000-plus customers can add flight and hotel rebooking to the T&E process, providing the lowest prices for their travel plans.
“On the heels of the pandemic, businesses are seeing a strong desire for more employee travel, but a turbulent economy has CFOs and finance leaders looking for ways to keep those costs down without slowing the business, which is exactly what Emburse and TRIPBAM enable,” said Eric Friedrichsen, CEO of Emburse.
“I’m excited about this acquisition because our combined solution puts the power of automation, AI and data in the hands of our customers so that they can focus on their business instead of the busywork of trying to manage spend manually.”
Steve Reynolds, CEO and founder of TRIPBAM, added: “When looking for the best way to help bring TRIPBAM to the next stage of its journey, we knew that we needed to join an organisation that has a strong track record of global growth and could support the world’s biggest brands.
“In Emburse, we found a similarly entrepreneurial, customer-centric organisation that is challenging the status quo with new ways of thinking and a great suite of products. With Eric’s leadership and Emburse’s team and resources, we can continue to expand our global reach and find new ways of saving our customers money.”
Reynolds will now report directly to Friedrichsen and the rest of the TRIPBAM team will maintain the same reporting structure.