Rapid European growth continues
Concur, a provider of expense management systems, has bought French rivals Etap-on-Line.
The move continues the US company's rapid expansion in European over the last two years.
Etap-on-Line was a privately owned company based in Paris. No figure was given for the purchase.
Steve Singh, Concur's chairman and ceo, said: "This acquisition is one more step in Concur's ongoing commitment to providing both global and local leadership to the travel and expense industry.
"By extending Concur's investment and presence in Europe, we expect to build on our success, driving the innovation curve and expanding our market reach to deliver enhanced value for all of our customers."
Pierre Higelin, co-founder of Etap-On-Line, said: The combination of two strong organisations with deeply similar values and approaches makes enormous strategic sense, and will create enhanced opportunities for customers, partners and employees."
Concur has main offices in the UK and Prague and sales offices in Frankfurt, Paris, Stockholm and Brussels.
Its core market is in the UK, Germany, Austria, France, Belgium, the Netherlands and the Nordic countries but it has also built up a solid base in Central Europe.
The company reported an 82% rise in net earnings from $3.7m in the second quarter of 2008 to $6.7m for the same three months this year.
Its total revenue in Q2 rose by 16% to $62m, compared with 2008.
Concur is due to report its third quarter earnings on Wednesday (August 5).