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Travel and expense technology companies Certify, Nexonia, ExpenseWatch and Tallie have merged to create what they are calling the largest independent company in the space. K1 Investment Management is backing the merger to the tune of $125 million and, in a statement says “additional capital is available for further acquisitions.” In the short-term the plan for the merged companies is to invest in technology and expand geographically. According to the statement, the merged entity now sits behind Concur in terms of size. Technology research company IDC estimates the market for travel and expense management software will reach $2.46 billion by 2020. Read original article |
