Purchase will expand platform’s reach in Europe >>
by: Harvey Chipkin
TripActions, the travel management platform, has agreed to acquire Comtravo, a Germany-based travel management company serving Germany, Australia, Switzerland and Scandinavia. Comtravo, according to an announcement, has more than 2,500 clients and a dozen offices. The company, said the announcement, brings invoice and VAT technology, enhanced local support and important regional inventory to the group as it expands in Europe. Already, according to the announcement, “Comtravo has shown incredible product-market fit through its growth and acquisition model.” Paired with the network and technology of TripActions, said the announcement, “the group will be a powerhouse in the region — perfectly geared to dominate both legacy and modern players in corporate T&E.” TripActions said it has now invested more than $400 million in Europe over the past year, including the acquisition of travel and event service Reed & Mackay. The company has also accelerated its geographic expansion, with offices now in London, Amsterdam, Paris, Dublin, Berlin, Frankfurt, Munich, Tel Aviv and Lisbon.
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