Holdings, the world’s largest car rental company, is acquiring Deem, a
managed-travel technology platform that it has invested in since 2016. Financial
terms of the deal have not been disclosed.
Francisco-based Deem provides a suite of online booking and management software for
business travelers, travel managers, travel management companies and suppliers. It counts more than 50,000 corporate
customers in 61 countries, with solutions for air,
hotel, rental car, black car, ride-hailing and rail service.
Holdings, which owns Enterprise Rent-a-Car, National Car Rental and Alamo Rent A
Car, has been using Deem’s technology solutions since 2011.
combination of intellectual property and tech talent represents a significant
opportunity for Enterprise Holdings to further enhance and expand our portfolio
of services," says Greg Stubblefield, executive vice president and chief strategy
officer for Enterprise Holdings.
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continue to operate independently, and John F. Rizzo will remain as CEO.
says the acquisition is expected to close in the next few months and will
provide Deem will capital and resources to “further expand its product roadmap
and increase the pace of product development and enhancements.”
says the deal is part of its ongoing acquisition and corporate venture capital
strategy, which has made nearly $2.4 billion in investments and commitments
since 2008 to companies in the United States, Canada, the United Kingdom,
France, Ireland, Spain, Brazil and China.
Deem's most recent funding prior to this came in 2016 when it raised $34 million.