TRX acquires a spend management technology developer

TRX, a transaction processing company for the travel industry, announced that it acquired Travel Analytics Inc. and its subsidiaries: Tango, an airline-tracking system, and Sierra, a travel-savings calculator.

TRX CEO, Trip Davis, said that the acquisition of the said developer was a logical decision, considering the ever-complicating fees in the travel industry. According to him, Travel Analytics will definitely help a lot in integrating the data the company has gathered over the years.

Davis already announced the company’s intent to acquire Travel Analytics Inc. about three months ago. According to him, the expansion is a bold stroke in tapping the different markets from North America, Asia and Europe.

In addition to these accomplishments, TRX reported its profits during the second quarter, stating that the company has garnered a little less than 1% increase in revenue in 2006. According to the report, the net income for the second quarter of 2006 was 1.8 million US dollars. For the officials of the company, this is a great achievement compared to its 2005 performance during the second quarter, having a net loss of 2.7 million dollars.

Davis said that all of these were made possible thanks to the right allocation and prioritisation of funds. Furthermore, he added that the company’s decision to lean away from marketing via call centres dramatically changed the overall performance of the company, shifting it to a more efficient one.