Belgium-based Rydoo, which
provides expense management software for corporations, has sold its travel
platform to CDS Groupe, a French company that provides a hotel reservation
solution.
Terms of the deal have not
been disclosed.
Rydoo’s travel team will
join CDS Groupe, and Rydoo travel vice president of sales and operations
Pierre Mesnage is leading the group's travel unit. Launched in 2018, Rydoo separated
its expense management and travel booking units about a year ago.
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CDS Groupe says it wants to
become Europe’s leader in hotel reservation solutions for business travel. Along
with bookings, the company’s solution manages payments, invoicing and
personalized reporting, all within a client’s policies.
“This acquisition aims to
reinforce the execution of CDS’s strategy that would accelerate the growth of
its international expansion,” says Ziad Minkara, CEO of CDS Groupe.
Rydoo says it currently has
about 10,000 customers, including Burger King, Deloitte and Singapore Airlines.
With the sale of its travel unit, Rydoo says it will focus on its expense
solutions, enabling links to travel management through partnerships with other
providers.