Concur, which invested $40m in the online travel agency in 2011, has agreed a deal to purchase a 25% stake in the company from two of its other investors.
Concur Technologies, a US-based provider of travel and expense management services, has agreed to increase its stake in India-based online travel company Cleartrip by acquiring the stakes currently held by venture capital firms Sherpalo Ventures and Kleiner Perkins Caufield & Byers, according to TechCrunch.
Concur acquired a minority stake in Cleartrip for $40m in 2011, after the company had raised $30.2m from investors also including DAG Ventures and Ram Shiram between 2005 and 2008.
A source directly familiar with the…
