Amex GBT acquiring CWT


Amex GBT acquiring CWT

Tuesday, 26 Mar, 2024 0

American Express Global Business Travel  has sealed an agreement to acquire business travel management firm CWT for $570 million.

The shares and cash deal is expected to be completed in the second half of this year.

The acquisition will bolster Amex GBT’s customer base by about 4,000 clients and boost annual revenues to $850 million.

“Bringing CWT onto the proven Amex GBT software and services model will create more choice for customers and more value for shareholders,” said Amex GBT CEO Phil Abbott.

CWT customers will get access to Amex GBT’s travel and expenses software Neo and Egencia.

Amex GBT says the deal would lead to about $155 million in cost saving synergies.

CWT CEO Patrick Andersen said: “Joining forces with Amex GBT helps accelerate our vision of a tech-enabled future for business travel. We are highly confident in the value creation of the combined company.” 

Related News Stories:  



Related News Stories:  



 

profileimage

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



Most Read

Bubba O’Keefe on Clarksdale’s Vibrant Music Scene

Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee

Craig Ray and the Expansion of the Blues Trail

Presenting Mississippi’s Cultural Trails with Katie Coats

Robert Terrell: A Journey Through BB King’s Influence

Rochelle Hicks: Celebrating Mississippi’s Musical Legacy

Exploring Jacksonville with Katie Mitura: The Flip Side of Florida

Tricia Handley-Hughes of Inteletravel announces the location for the TravelQuest 2025 conference

Insights from James Ferrara on Inteletravel’s Growth and Future

Tricia Handley-Hughes on Inteletravel’s Growth and Challenges

Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail

Sophia Hyder Hock on Global Social Inclusion in Tourism
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari

true