American Express announced that it has entered into an agreement to acquire Center, which is a software company modernizing expense management.
Center’s software, combined with American Express’ corporate and small business cards, will aim to create a seamless expense management platform that delivers more value across the commercial card payments process – from choice in premium card offerings and rewards to automated accounting and reconciliation.
Center’s software was built to remove friction from the expense management process. It gives businesses real-time visibility into all employee spending, automates manual accounting tasks, streamlines expense submissions and reporting, and equips finance teams with the tools and insights needed to optimize decision-making.
The deal is expected to close within the second quarter of 2025, subject to customary closing conditions.
KEY QUOTES:
“As a leader in corporate and small business cards, it is our job to deliver innovative products and services that help customers run their businesses more efficiently. By integrating Center’s outstanding talent and technology, we can save our customers time and money and strengthen our leadership position in commercial card payments.”
– Raymond Joabar, Group President, Global Commercial Services at American Express
“Center was founded with the mission to drive simplicity in the user experience and make expense management as effortless as swiping your card. Since 2018, our team has built industry-leading software and delivered strong results for our customers. We have always believed that card and expense management should be deeply linked, and we believe that even more great work can be done by incorporating our capabilities and talent into American Express.”
– Naveen Singh, CEO and Co-founder of Center
