American Express Global Business Travel (GBT) has made a binding offer to acquire Egencia, Expedia Group’s corporate travel arm.
As part of the transaction, Expedia Group would become a shareholder in, and enter a long-term strategic commercial agreement with, GBT.
Paul Abbott, GBT chief executive, said: “Our strategy is to provide customers with unparalleled choice by having the best solutions for each managed travel segment that we serve.
“In Egencia, we would welcome the industry’s leading digital business travel platform.
“Egencia would be strengthened by GBT’s complementary technology, enterprise capabilities and cutting-edge content. This would create new opportunities for both multinational and small and medium-sized enterprise clients, suppliers and the talented teams within both organisations.”
Together, GBT and Egencia would offer comprehensive technology and customer solutions across every segment of business travel.
President of Expedia Business Services, Ariane Gorin, said: “We are thrilled by the potential transaction and what GBT and Egencia could achieve together, as Expedia Group seeks to simplify our business and be a leader in all of our endeavours.
“The combination of GBT’s leading solutions with Egencia’s great technology and team would help create the world’s best business travel offerings for customers and suppliers.”
The proposed deal is subject to consultation by Expedia Group and Egencia with their applicable employee representatives, as well as customary closing conditions including regulatory approvals.
No financial details were given for the transaction.
May 23, 2021 at 08:43AM