French hotel booking platform CDS Groupe has acquired expense management provider Rydoo’s travel platform, the companies announced.
Financial terms of the deal were undisclosed.
Rydoo, which reports Burger King, Deloitte and Singapore Airlines among its more than 10,000 corporate customers around the world, was launched in 2018 by employee services firm Sodexo following its acquisition of expense management supplier Xpenditure and booking tool Maya. The travel and expense tools operated as separate but connected modules and have been operating as separate business units.
With the sale of the travel platform to CDS, Rydoo will focus on its expense tool and “strong partnerships” where its clients can choose the booking tool that best suits their needs, as well as connections to other systems including HR and payment, according to Rydoo.
CDS, meanwhile, aims to become “the European leader in hotel reservation solutions in the business travel field” with the Rydoo travel platform acquisition, 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 is leading the group’s travel unit.