CNQR Acquires conTgo
Concur Technologies, Inc. (CNQR) is a leading service provider in integrated travel and expense management. Recently, it acquired a privately owned company conTgo. This acquisition will enable CNQR to add location based comprehensive communication and messaging platform to its customers, suppliers and clients.
CNQR intends to deploy conTgo’s leading cloud based technology and expertise to enhance its customers’ experience by using itinerary data and location information with insight and context from past behavior. This will be applied in the context of tracking employees based on their location and communicating with them 24X7.
This will also help travelers make travel plans in accordance with their colleagues using locational data like hotel, city .etc. They can also manage to take up the transportation services along with their friends from the same hotel. Additionally, this will make delivery of offers based on itinerary data easier.
This step is expected to give CNQR an extra edge to rise above its competitors. This will help companies track and communicate with their travelers at any point of time, whatever be their location.
The terms of the contract were not disclosed. Due to the increased headcount and the resultant increase in operating cost arising out of this acquisition, the company’s operating margin is expected to decrease marginally for 2013. However, the company will surely benefit in the long run from the improved customer experience that CNQR will be able to deliver through this acquisition.
Concur Technologies currently holds a Zacks #3 Rank, implying a short-term Hold recommendation on the stock. Its competitors Advent Software (ADVS), Blackbaud Inc (BLKB) and Netsol Tech Inc (NTWK) all hold a Zacks Rank #1, (Strong Buy).
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