Amex GBT Finalizes $540 million Acquisition of CWT

American Express Global Business Travel (Amex GBT) has completed its acquisition of CWT, a global provider of business travel and meetings solutions. This transaction, initially announced in March 2024, values CWT at approximately $540 million, excluding cash and debt, and subject to certain adjustments.

Amex GBT, operated by Global Business Travel Group, Inc. (NYSE: GBTG), is a prominent company in the travel, expense, and meetings & events sector. With this acquisition, CWT’s customers and employees will transition to Amex GBT’s suite of travel and expense software solutions. These include proprietary platforms such as Neo and Egencia, along with Select, which facilitates integration with top technology partners.

Paul Abbott, CEO of Amex GBT, expressed optimism about the merger, stating, “Today marks the start of an exciting relationship with CWT customers. We will listen, build trust and deliver the choice, value and service they expect.” He emphasized that the acquisition is expected to enhance investment capacity for Amex GBT’s software and services and generate significant shareholder value through anticipated efficiency gains.

CWT customers will now have access to Amex GBT’s extensive range of professional services. These services cover meetings and events, consulting, and sustainability solutions. Additionally, through Amex GBT’s business travel marketplace, customers can access a wide array of competitive travel content.

The acquisition is projected to create approximately $155 million in annual run-rate synergies within three years, contributing to significant shareholder value. Amex GBT plans to provide updated guidance for the full year 2025, reflecting the impact of the CWT acquisition, during its next earnings call in November.