Based in Belgium Rydoowhich provides cost management software to corporations, has sold its travel platform to CDS Groupa French company that provides a hotel reservation solution.

The terms of the deal have not been announced.

Rydoo’s travel team will join CDS Groupe, and Rydoo travel’s vice president of sales and operations, Pierre Mesnage, will head the group’s travel department. Launched in 2018, Rydoo separated its cost management and travel booking units about a year ago.

CDS Groupe says it wants to become a European leader in hotel travel solutions for business travel. Along with reservations, the company’s solution manages payments, invoicing and personalized reporting, all within customer policies.

“This acquisition aims to strengthen the implementation of CDS’s strategy, which will accelerate the growth of its international expansion,” said Ziad Minkara, CEO of CDS Groupe.

Rydoo says it currently has about 10,000 customers, including Burger King, Deloitte and Singapore Airlines. With the sale of its travel unit, Rydoo says it will focus on its spending solutions, allowing connections to travel management through partnerships with other providers.

https://www.phocuswire.com/rydoo-sells-business-travel-platform-to-cds-groupe

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