Amex GBT makes binding offer to acquire Expedia Group’s Egencia

Amex GBT makes binding offer to acquire Expedia Group’s Egencia

LONDON — American Express Global Business Travel (GBT) has made a binding offer to buy Egencia, Expedia Group’s corporate travel arm. 

Expedia Group would become a shareholder in, and enter a long-term strategic commercial agreement with, GBT, as part of the transaction.

“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,” said GBT’s CEO Paul Abbott.

“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 (SME) clients, suppliers and the talented teams within both organizations,” he added.

 

 

The companies say a combined GBT and Egencia would offer comprehensive technology and customer solutions across every segment of business travel. Teaming Egencia with GBT’s Supply MarketPlace would give customers more choice and suppliers more access to business travellers, while with both the Egencia platform and GBT’s Neo Technology Group, the business “would be positioned to build the best solutions for the future of business travel.”

Says Ariane Gorin, President, Expedia Business Services: “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.