American Express Global Business Travel agrees to acquire Egencia from Expedia Group
May 04 2021 - 8:00AM
Business Wire
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.
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The deal would bring Egencia, a leading digital travel
management company, into the GBT family. GBT would continue to
invest in the Egencia brand, its people and technology, as part of
the world’s leading business travel platform.
Paul Abbott, GBT’s CEO, 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 (SME) clients, suppliers and the talented
teams within both organizations.”
Together, GBT and Egencia would offer comprehensive technology
and customer solutions across every segment of business travel.
Teaming Egencia with GBT’s Supply MarketPlace, one of the most
comprehensive sources for content and experiences for business
travelers, would give customers more choice and suppliers more
access to business travelers.
Meanwhile, 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.
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.
“At the same time, a greatly expanded, long-term accommodations
supply agreement with Expedia Partner Solutions (EPS) would enhance
GBT’s Supply MarketPlace and meaningfully further Expedia Group’s
goal of powering businesses across the entire eco-system.
“Expedia Group strongly believes in the robust return of travel,
including in the corporate space. We’re excited about our potential
ownership in GBT and our long-term arrangement to power Egencia and
GBT, as we do for thousands of other travel companies,” Gorin
added.
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.
About American Express Global Business Travel
American Express Global Business Travel (GBT) is the world’s
leading business partner for managed travel. We help companies and
their employees prosper by making sure travellers are present where
and when it matters. We keep global business moving with the
powerful backing of travel professionals in more than 140
countries. Companies of all sizes, and in all places, rely on GBT
to provide travel management services, organise meetings and
events, and deliver business travel consulting.
Visit amexglobalbusinesstravel.com for more information
about GBT, and follow @amexgbt on Twitter, LinkedIn
and Instagram.
About Expedia Group
Expedia Group, Inc. (NASDAQ: EXPE) companies power travel for
everyone, everywhere through our global platform. Driven by the
core belief that travel is a force for good, we help people
experience the world in new ways and build lasting connections. We
provide industry-leading technology solutions to fuel partner
growth and success, while facilitating memorable experiences for
travelers. The Expedia Group family of brands includes: Expedia®,
Hotels.com®, Expedia® Partner Solutions, Vrbo®, Egencia®, trivago®,
Orbitz®, Travelocity®, Hotwire®, Wotif®, ebookers®, CheapTickets®,
Expedia Group™ Media Solutions, Expedia Local Expert®,
CarRentals.com™, and Expedia Cruises™.
© 2021 Expedia, Inc., an Expedia Group company. All rights
reserved. Trademarks and logos are the property of their respective
owners. CST: 2029030-50
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American Express Global Business KWT Global GBTUS@kwtglobal.com
+1 929-358-4068
Expedia Group press contact: press@expedia.com
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