The NASDAQ listed travel management solutions provider Concur has announced an investment of $40 million for a minority interest in one of India’s top 3 online travel agencies (OTAs) Cleartrip Travel Services (Cleartrip.com).
The alliance between Concur and Cleartrip also includes a marketing partnership, which will enable the company to access travel content and integrate with Cleartrip’s offerings and together target the Indian business travel market. The two companies will work together to leverage specific Indian domestic travel content, including air, hotels and rail, available through Cleartrip, the company has said in a release.
Concur has forayed into India and will set up operations here. Concur offers web based and mobile solutions for travel and expense management to companies. Now, Concur will enable its reportedly 15 million clients to use Cleartrip-generated travel itineraries for travel and expense reporting. Concur claims that its on-demand services process over $35 billion in travel and entertainment (T&E) spend a year.
The alliance between Concur and Cleartrip also includes a marketing partnership, which will also enable the company to access travel content and integrate with Cleartrip’s offerings and together target the Indian business travel market. The two companies will work together to leverage specific Indian domestic travel content, including air, hotels and rail, available through Cleartrip, the company has said in a statement.
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