Travel and expense management platform TripActions has followed up the takeover of UK business travel specialist Reed & Mackay by acquiring German TMC Comtravo.
The second Europe acquisition by US-based TripActions Group involves total investment across the UK and Europe of more than $400 million in less than a year.
Combined, TripActions will now support more than 7,500 customers and manage nearly $6 billion in total travel budget across 94 countries – with half of the group’s business now in Europe and the UK.
Long-established Reed & Mackay was acquired from private equity investor Inflexion in May 2021.
Berlin-based Comtravo serves the German, Austrian, Swiss and Scandinavian regions.
The acquisition adds to TripActions’ rapid geographic growth, with offices now in London, Amsterdam, Paris, Dublin, Berlin, Frankfurt, Munich, Tel Aviv and Lisbon.
In addition to the acquisition of Reed & Mackay, TripActions has created a corporate travel booking platform in partnership with Lufthansa Group and launched a fintech-powered corporate card and expense management solution, Liquid, in the EMEA region over the past eight months.
A statement said: “Comtravo brings to the TripActions Group a wealth of regional expertise and inventory, including domestic rail, low-cost carriers, and ancillary air travel supply that will further the group’s dominance in the region.”
TripActions co-founder and chief executive Ariel Cohen added: “TripActions is on the fast track to dominating travel and expense on a global scale.
“We’ve invested heavily across Europe over the past year and Comtravo is the perfect addition to build out our regional offering as the only truly global all-in-one travel, corporate card and expense management solution.”
Comtravo chief executive Michael Riegel said: “When we looked across the industry, it became clear that the TripActions Group is the best positioned to take the European market.
“With our strong customer and supplier relations, Comtravo will focus on ensuring that the combined group has the best product offering in the region. We are thrilled to become a part of TripActions’ success story in the EU and beyond.”