American Express Global Business Travel (GBT) has successfully completed the acquisition of the Egencia travel management platform from Expedia Group.
As part of the transaction, Expedia Group becomes a shareholder in GBT.
Expedia has also entered into a long-term agreement to provide accommodations supply to GBT.
GBT plans to accelerate investment in the Egencia brand, its people and technology.
GBT and Egencia will together offer solutions across all segments of business travel.
Paul Abbott, GBT CEO, said: "Bringing GBT and Egencia together will create a winning formula that will define the future of travel. Together we’ll have the best content and deliver the best savings."
With the close of the transaction, Mark Hollyhead, President of Egencia, will continue to lead the Egencia business reporting directly to GBT CEO Paul Abbott and will join GBT’s executive leadership team.
"Today is a significant moment in realising the next important chapter for Egencia. Becoming part of an organisation totally focused on business travel will accelerate Egencia’s growth and amplify what we do best," Hollyhead said.
