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Concur Technologies to enter the Japanese market
[January 19, 2011]

Concur Technologies to enter the Japanese market


(Associated Press Via Acquire Media NewsEdge) NEW YORK -- Concur Technologies Inc., whose Web-based service helps businesses create travel and expense reports, said Wednesday that is entering the Japanese market with the help of venture capital firm SunBridge Corp. The joint venture deal is expected to close in February.



SunBridge has a track record of taking American, business-focused websites to Japan: it invested in salesforce.com Japan, and the firm's founders have held executive positions with Oracle Japan and IBM Japan. Marc Benioff, who founded salesforce.com Inc., will also invest in the website, dubbed Concur Japan.

Concur, however, will be the majority shareholder.


The Redmond, Wash.-based company is entering the Japanese market convinced that companies there are increasingly keen on running their businesses online.

"Increasingly, Japanese companies are turning to Web and mobile solutions to help them reduce costs, increase scalability and flexibility and make life easier for their employees," said Steve Singh, Concur's chairman and chief executive officer, in a statement.

Shigeru Fujii, who most recently oversaw strategic planning for the Japanese software developer Ashisuto KK, will be the CEO of Concur Japan.

Shares of Concur closed at $55.72 on Tuesday.

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