French hotel booking platform CDS Groupe has acquired expense management provider Rydoo’s travel platform, the companies announced.
The financial terms of the deal were not disclosed.
Rydoo, which reports Burger King, Deloitte and Singapore Airlines among more than 10,000 corporate customers worldwide, was launched in 2018 by employee services company Sodexo after acquiring cost management provider Xpenditure and tools to book Maya. Travel and expense devices act as separate but connected modules and act as separate business units.
In selling the travel platform to CDS, Rydoo will focus on its cost and “strong partnership” where its clients can choose the booking tool that best suits their needs, as well. connections to other systems including HR and payments, according to Rydoo.
CDS, on the other hand, aims to become “the European leader in hotel reservation solutions in the field of business travel” with the acquisition of Rydoo’s travel platform, according to CDS Groupe CEO Ziad Minkara. Its team will consist of 150 employees including about 60 developers, and Rydoo Travel VP of sales and operations Pierre Mesnage leads the group’s travel unit.