PRESS RELEASE: TRIPACTIONS ACQUIRES REED & MACKAY, EXPANDS GLOBAL AND ENTERPRISE OFFERING
Combined group to deliver the most comprehensive travel solutions offered on the market for today and tomorrow
LONDON and PALO ALTO, CA, May 5, 2021—TripActions, the fastest-growing business travel and spend management platform, today announced the acquisition of Reed & Mackay, a high-end travel and meetings and events business with global clientele and market reach. Reed & Mackay will retain its premium brand, experienced employees, and high-touch tailored service for clients across more than 50 markets. Together, the group will partner to deliver an unsurpassable corporate travel and spend management solution for any company of any size around the globe.
The acquisition accelerates TripActions’ momentum, fueled by its recent $155 million in funding and international growth, and couples the user and technology-first corporate travel and spend management solutions of TripActions with the pedigree and tailored service of Reed & Mackay.
“Reed & Mackay has long led the corporate travel industry as a premium service for the most discerning clients with custom needs,” says Ariel Cohen, CEO and co-founder of TripActions. “Its first-class service and product, paired with the technology and culture of innovation at TripActions will create a new breed of travel management that is able to cater to the every need of companies of all sizes in every geographic location.”
Started as a family business nearly 60 years ago, Reed & Mackay is today globally recognised as business travel and event solution experts. Adept at navigating complex itineraries, whether that’s arranging a multi-stop media tour for a VIP or managing the demanding road schedule for professional sports teams, Reed & Mackay’s additive services and global capabilities will help ensure that TripActions remains the preeminent offering for the global marketplace.
“This acquisition significantly changes the TMC landscape and it is pleasing to see TripActions further its investment in the European market,” says Scott Davies, CEO at The Institute of Travel Management (ITM). “Combining the corporate travel and spend technology of TripActions with the high-touch service and scale of Reed & Mackay will create a very compelling proposition across a wide range of market segments.”
The combined group will manage $5B in travel budget and serve more than 5,000 customers around the world, including leading companies such as Lyft, Nilfisk, Zoom, Lennar, and Springer Nature.
“We’re incredibly proud of Reed & Mackay’s reputation as the absolute leader in high-touch service across the globe,” says Fred Stratford, CEO of Reed & Mackay. “By joining forces with TripActions, the clear market leader in driving innovation for user experience, we will further enhance the value that we deliver to our prestigious client base. Both businesses have a forward thinking mindset and both place the needs of clients at the heart of everything we do. Together, we can provide an unparalleled service offering and traveler experience. It’s not only hugely exciting, it’s game-changing.”
Fast becoming the default for corporate travel and expenses, TripActions is the leading, cloud-based T&E platform that combines industry-leading tech with best-in-class travel agency service. Trusted by more than 4,000 companies globally, TripActions empowers organizations with real-time data to make business decisions, paired with flexible T&E management tools that enable them to adapt to changing market conditions to keep traveling employees safe, control costs, and save money. Learn more at tripactions.com.
About Reed & Mackay
Reed & Mackay delivers corporate travel and event solutions for professionals with exacting needs. Established as a family business nearly 60 years ago, Reed & Mackay is today globally recognised as business travel and event solution experts. Born from close working relationships within the financial, legal and insurance sectors, Reed & Mackay’s commitment to its clients and a love of what it does inspires the company to deliver extraordinary travel management. Reed & Mackay combines inspired service with state-of-the-art technology to create a level of travel management like no other and deliver value that one might not believe possible.