Concur to get new credit facility for H-G purchase

By Sara Rosenberg

New York, July 30 - Concur Technologies Inc. has received a commitment for a new credit facility to help fund its acquisition of H-G Holdings, Inc., according to a news release.

Under the agreement, Concur will pay $160 million in cash for all of the outstanding equity securities of H-G Holdings. The total amount of the consideration is subject to certain adjustments, escrows and hold-back provisions.

The acquisition is subject to customary closing conditions and regulatory approvals.

Concur is a Redmond, Wash., provider of on-demand Employee Spend Management services. H-G is a provider of expense management services.

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