Rydoo sells business travel platform to CDS Groupe

Based in Belgium Rydoowhich provides expense management software to businesses, sold its travel platform to CDS GroupFrench company that offers a hotel reservation solution.

Terms of the agreement were not disclosed.

Rydoo’s travel team will join CDS Groupe, and Rydoo Travel’s Vice President of Sales and Operations, Pierre Mesnage, will lead the group’s travel unit. Launched in 2018, Rydoo separated its expense management and travel booking units about a year ago.

CDS Groupe claims to want to become the European leader in hotel reservation solutions for business travel. In addition to reservations, the company’s solution handles payments, billing and custom reporting, all within the client’s policies.

“This acquisition aims to strengthen the execution of CDS’s strategy that would accelerate the growth of its international expansion,” said Ziad Minkara, CEO of CDS Group.

Rydoo says it currently has around 10,000 customers, including Burger King, Deloitte and Singapore Airlines. With the sale of its travel unit, Rydoo says it will focus on its expense solutions, enabling links to travel management through partnerships with other vendors.