Direct Travel To Be Acquired by Steve Singh & Investors Group

Direct Travel today announced its acquisition by Concur founder Steve Singh and a group of investment firms.

As part of the acquisition, former Talend and Concur executive Christal Bemont will take over as Direct Travel’s CEO, and Singh will serve as executive chairman.

Current CEO Ed Adams, who founded the company in 2011, plans to retire. Adams is a respected voice in the industry, and was twice recognized in Business Travel News’ “Top 25 Most Influential Business Travel Executives.”  Recently, he was inducted into the Business Travel News Group Hall of Fame.

“Together with our technology partners and extensive supplier network, we will continue to invest in proprietary technology around user experience and dynamic client services, all of which we plan to make available as a service to other travel management companies,” Bemont said in a release.

Based in Denver, Colorado, Direct Travel is a leading provider of corporate travel management services, with offices in over 80 locations across North America and the UK. 

The investment group includes Durable Capital Partners, Madrona Ventures, Top Tier Capital Partners, and Blackstone Credit & Insurance. The financial terms of the deal were not disclosed.

“Our investment group has sought out companies that are re-inventing key elements of the travel ecosystem,” said Singh. “Direct Travel sets the bar for customer experience.”