United Kingdom
United States
Asia Pacific
Amex to buy Rosenbluth
American Express agreed to purchase Rosenbluth International – a move that will hugely expand Amex’s lead as the largest corporate travel management company in the world.
The deal, which is subject to regulatory approval, sees Amex purchase all shares in Rosenbluth for an undisclosed sum.
The two companies are the number one and number five US-based travel agencies and between them booked $18.5 billion in global travel volume last year. Amex was reponsible for the larger share of $15.5 billion.
Amex Global Corporate Services group president, Ed Gilligan says the deal will deliver cost savings through economies of scale and allow Amex to invest more in technology.
The Rosenbluth name will disappear, although chairman and chief executive, Hal Rosenbluth, says he will take an active role in the integration process. Both companies have been operating for more than 100 years.
The deal excludes some Rosenbluth assets including Up/Stream, an outsourced customer care business.
Read our previous stories:
17-June-2002 Amex row with BA is “dangerous”, says rival
26-March-2002 Amex launches corporate events card in UK
27-Feb-2002 Amex helps corporates target mobile phone costs
Related News Stories:
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
Dozens fall ill in P&O Cruises ship outbreak
Woman dies after getting ‘entangled’ in baggage carousel
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Protestors now targeting Amsterdam cruise calls