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TripActions has acquired UK travel management
company Reed & Mackay from its private equity owners. The terms of the deal
are undisclosed.
Reed & Mackay was founded in 1960 and
is best known for its high-touch service for clients in the insurance sector and wider
financial services. Private equity company Inflexion bought Reed &
Mackay in 2016 in a deal rumoured to have been worth around £170 million.
TripActions was founded by Ariel Cohen and Ilan Twig in California
in 2016 and recently secured
US$155 million in Series E funding, valuing
the travel and expense provider at US$5 billion. It recently announced Springer
Nature and Primark among its European client wins.