SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
February 23, 2000
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Date of Report (Date of earliest event reported)
Concur Technologies, Inc.
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(Exact name of Registrant as specified in its charter)
Delaware 000-25137 91-1608052
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(State of incorporation) (Commission file number) (I.R.S. Employer
Identification No.)
6222 185th Avenue NE
Redmond, Washington 98052
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(Address of principal executive offices, including zip code)
(425) 702-8808
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(Registrant's telephone number, including area code)
Item 5: Other Events
On February 23, 2000, Concur Technologies, Inc. announced that it had
entered into strategic alliance agreements with Nortel Networks Corporation and
SAFECO Corporation. In connection with those agreements, Nortel Networks and
SAFECO will invest a total of $35 million to purchase approximately 1.5 million
shares of Concur common stock, and that Nortel Networks and SAFECO will receive
warrants to purchase additional Concur common stock. The warrants will be
exercisable at the greater of $30.26 or 50 percent of the common stock price on
prescribed dates based on achieving certain annual targets for revenue derived
in connection with the arrangements with Nortel Networks and SAFECO over the
next five years. Nortel and SAFECO each agreed to resell certain of Concur's
products. Also, Nortel agreed to include Concur's eWorkplace business portal as
a hosted application providing access to Concur Business Advantage, and SAFECO
agreed to provide certain insurance and business equipment lending products
through Concur Advantage. The President of SAFECO Life & Investments agreed to
join Concur's Board of Directors.
Item 7: Financial Statements and Exhibits.
(c) Exhibits
Number Description
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99.01 Press release dated February 23, 2000
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Concur Technologies, Inc.
Date: February 23, 2000 By: /s/ Sterling R. Wilson
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Sterling R. Wilson
Executive Vice President of Operations
and Chief Financial Officer
Exhibit Index
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Number Description
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99.01 Press release dated February 23, 2000