Concur Closes Gelco Buy

As it started its new fiscal year this week, Concur Technologies completed the $160 million acquisition of H-G Holdings Inc., parent of rival Gelco Expense Management, adding about 1,200 new customers, 300 employees and $9 million in recurring quarterly revenues. Concur now counts more than 6,200 customers and projects revenues of $45 million for its fiscal first quarter and $196 million for the full year.