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Hogg Robinson Group has purchased German online travel management specialist eWings.
HRG announced this acquisition as it unveiled a 16 per cent increase in operating profit during the last financial year.
Berlin-based eWings, which specialises in flight-booking software, was set up in 2014 and has been acquired by HRG for an undisclosed price. The deal is expected to close within 15 working days.
Bill Brindle, chief information officer at HRG, said: “eWings provides us with a developed solution as well as some great new technology which is highly complementary to our own proprietary technology and will fit perfectly with our platform. “In addition to being an exciting new approach to fast and easy business travel, eWings gives us a speed to market advantage in the small business space and means we can accelerate our new distribution strategy across the whole market.”
Brindle added that there would be “no immediate change for clients, partners and staff” at both HRG and eWings following the acquisition.
The news came as HRG unveiled a 5 per cent rise in revenue to £335.1 million for the financial year to March 31, 2017 with operating profit increasing from £39.3 million in 2016 to £45.5 million this year.
David Radcliffe, CEO of Hogg Robinson Group, said: “This has been a successful year for Hogg Robinson Group. We refocused our growth strategy while also delivering a good financial and operating performance in line with our expectations.
“We are now seeing real gains in terms of improved efficiency, lower operating costs and an enhanced service to our clients and end customers.
“Against a backdrop of continuing macroeconomic and geopolitical uncertainty, combined with previously flagged strong competitor pricing activity, we have this year continued to expand underlying operating profit margin and deliver earnings growth.”