Updated Jan. 28, 2019, 10:59 p.m. Eastern: Enterprise has completed its acquisition of managed travel technology platform Deem.
Enterprise Holdings is acquiring corporate travel technology platform Deem and will maintain it as an autonomous operation while providing the resources to speed up Deem's development plans.
The deal is expected to close within 30 days, Enterprise Holdings EVP and chief strategy officer Greg Stubblefield said. Deem will stay in its Silicon Valley headquarters and retain its executive team, including CEO John Rizzo. Stubblefield said that was an important term of the acquisition. "We looked at Deem as a company that can bring better solutions to the travel industry," Stubblefield said. "Deem has a great platform and partnerships with agencies and travel management companies, so the value we can bring is from a resource point of view and a human resource point of view to help them build out that platform."
Enterprise and Deem already have an established relationship, as Enterprise has been an investor in Deem for several years, Stubblefield said. Enterprise's EHIDirect booking platform for small and midsize enterprises is powered by Deem technology, and last year, the companies teamed up on a car and driver service for travelers in China. They are looking at offering similar services in other geographies, he said.
For Deem, it will be "business as usual," Rizzo said. The company over the past few years has narrowed its focus to its managed travel and ground transportation offerings, including the launch of its Work Fource platform and the Ground Work ground technology platform within that. "With Enterprise, it will be a whole different world," Rizzo said. "There's a long list of things on the road map like in the ridehailing area and integrating more deeply on that, and customers should feel that we're moving faster."
“Business as usual” also means that Deem also will continue to work with competing car rental suppliers, including providing content and agreements like its recent deal to provide Avis India's chauffeured services through Deem.