HRG to Buy Remaining Shares in Spendvision

Hogg Robinson Group has confirmed its intention to purchase the remaining shares in Spendvision, a global provider of total transaction management solutions. HRG will consequently own 100% of the subsidiary.

David Radcliffe, Chief Executive of HRG, said, "I am obviously very pleased to be making public our intention to buy the remaining shares in Spendvision. Since we made our original investment in the business back in 2004, we have seen the demand from the corporate travel market grow for 'end to end' solutions. As clients continue to focus on saving money and working more efficiently, there is an increasing need to bring the processes of booking travel, payment and expense management together. The natural synergies that exist between HRG and Spendvision present a real opportunity."

Shane Bruhns, previously Chief Operating Officer and who will be appointed Chief Executive Officer of Spendvision once the deal has been completed, added, "My colleagues and I at Spendvision are delighted with the news of our new ownership. HRG has been a staunch investor in our business over the years and this new development with enable us all to work even more closely together to deliver continued excellence of service to our clients around the world."

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