TRX Ready to Buy Hi-Mark

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. October 14, 2008

DECEMBER 8, 2006. TRX has announced the execution of an agreement to acquire Hi-Mark Software, an Atlanta-based provider of data acquisition and business intelligence technologies. The acquisition is expected to close in January 2007.

Hi-Mark, established in 1993 by travel industry veteran Kevin Austin, has approximately 175 clients supporting over 1,000 companies around the world through its suite of data acquisition, data quality improvement, email notification, and business intelligence and reporting applications.

Hi-Mark serves corporations, agencies, and airlines in the travel marketplace, as well as companies in the financial services and healthcare industries. Hi-Mark technologies deliver timely and effective information that allows corporations to make organizational improvements, improve service, and reduce costs.

"In the corporate travel marketplace today, it is all about better access to and understanding of global transaction data. The acquisition of Hi-Mark puts us in the best position to meet those critical market needs and directly supports our growth plan and our vision," said TRX President & CEO Trip Davis. "Hi-Mark has an impressive client roster and technology portfolio that diversify our client base and open up both revenue growth and market expansion opportunities. Together, we're one of the world's leading, independent providers of data reporting applications that can handle all kinds of data - travel data, payment data, and expense data. We are ready to deliver on our vision to be the global leader in corporate travel data reporting."

"I am excited about joining TRX, both for our Hi-Mark team and for our clients," said Kevin Austin, President of Hi-Mark Software. "We bring proven data acquisition and business intelligence solutions to the table that will complement TRX's existing DATATRAX data integration offering. TRX offers deep development talent and unrivaled experience in high volume travel and payment data matching and reporting. Together, we have data applications that we believe will meet the needs of any corporation, large or small."

"The reality is that most companies have islands of data that they can't easily share with other systems because of disparate data types and geographic diversity," said Hi-Mark Chief Operating Officer, Tim Fahy. "Developed in response to market demands, we created the Hi-Mark suite of products to address this challenge. Now, as part of TRX, we'll be able to make an even greater contribution to travel and other industries, such as financial services and healthcare."

The two companies will continue to support their clients through the end of this year under their respective company and product brands. Existing clients of both companies can expect the same degree of quality service that TRX and Hi-Mark provide today.

Upon the expected completion of the acquisition in January, TRX and Hi-Mark intend to integrate their operations and develop joint product plans by 31 March 2007. TRX and Hi-Mark data processing and reporting technologies will work to improve and simplify data integration and data quality for corporations so they can make better decisions about their travel spending and identify bigger savings opportunities.

"Hi-Mark is an ideal tuck-in acquisition. This is a hometown deal for two Atlanta companies. We have a clear integration path. The Hi-Mark leadership team is on board. This transaction is a straight-forward way for us to deploy capital and take advantage of the growth opportunities that we see in the corporate travel marketplace and potentially other industries," Davis concluded.