HACKENSACK, N.J. - Rearden Commerce today announced the acquisition of automated ground transportation reservation provider Ground Global Automation — formerly Ground Travel Technology Team — for an undisclosed amount.
GGA will operate as a stand-alone subsidiary within the growing Rearden Commerce portfolio that also includes expense management software provider ExpenseWire. President and CEO Gregg Tuccillo remains head of the Hackensack, N.J.-based GGA.
This is Rearden's second acquisition of a corporate travel technology provider since it received $100 million in funding in May from current investors and new financing partner JPMorgan Chase.
"Through the relationships we've established with American Express and Chase and others, we've created massive distribution channels for services of all kinds and in some cases we'll build and in some cases partner and in some cases acquire service inventory to feed those distribution channels," said Rearden vice president of product marketing Dan Ford.
According to Ford, GGA has partnerships with all four global distribution systems, direct relationships with about 70 members of the Corporate Travel 100 and eight of the 10 leading online booking tools and online travel agencies and provides content of more than 33,500 car service providers globally. GGA is an opt-in service through Rearden's online procurement platform.
Tuccillo said GGA would remain a vendor neutral technology service provider, including with Rearden's online booking competitors. "We are truly neutral and we do not direct marketshare," he said.
GGA's Saturn product serves as the automated transaction tool hosted by GDSs and used by online booking products and some travel management companies to access ground transportation content. The company also has a back-office software service used by 40 of the top 100 chauffeured transportation companies and another software product for management reservation services, according to Tuccillo, who added that Rearden client GlaxoSmithKline is also a user of its software.
While GGA has strong presence with such large market corporations as Exxon Mobil, McKinsey and Merck, Tuccillo plans to grow midmarket company use by attracting super regional and regional travel management companies with enhanced rate transparency and comparison tools.
Within the next several weeks, GGA will roll out a Galileo-hosted system in the United Kingdom, followed by a European product through Amadeus, and the company is "in the final stages of putting to bed a deal with Abacus," said Tuccillo.
The company changed its name from GT3 in July after being acquired by venture capital-backed GGA. "Typically VCs have a limited timeframe in terms of how long they want to be in an investment," Tuccillo said. "We had reached and past that stage and they were looking for an exit."
Source: Business Travel News