Travel firm mega merger as Amex GBT acquires CWT for US$570m

travel

Two of the industry’s largest corporate travel companies are set to merge with American Express Global Business Travel (Amex GBT) to acquire CWT for around US$570 million.

CWT currently serves 4,000 customers and is expected to generate approximately US$850 million of revenues in 2024.

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

After the acquisition closes, CWT customers would have access to Amex GBT’s software and services for travel and expense, including Neo1, Neo and Egencia, in addition to Select, which enables customers to integrate with leading technology partners.

CWT CEO Patrick Andersen said they were “highly confident in the value creation of the combined company”.

“Joining forces with Amex GBT helps accelerate our vision of a tech-enabled future for business travel, where people and technology combine to deliver an exceptional customer experience,” he said.