American Express increases equity stake in Concur Technologies to 15%

American Express Company announced today that it has exercised a warrant to acquire 1.28 million shares of common stock of Concur Technologies, Inc., which will increase American Express’ ownership of Concur common stock from 13 to 15 percent. The warrant was issued by Concur to American Express in connection with its July 2008 stock purchase of 6.4 million shares of Concur common stock. The warrant entitled American Express to acquire the 1.28 million shares of Concur common stock at a price of $39.27 per share, for a total exercise price of approximately $50 million.