American Express Global Business Travel (Amex GBT), which operates under the umbrella of the Global Business Travel Group, has officially completed the acquisition of CWT, a global provider of business travel and meetings solutions. This strategic move, first announced in March 2024, represents a significant step in enhancing the services and solutions available to clients in the business travel sector.
The acquisition values CWT at an impressive $540 million on a cash-free and debt-free basis, reflecting the strong potential of CWT’s offerings. Of course, this figure is subject to certain assumptions and adjustments in purchase price. This deal underscores Amex GBT’s commitment to expanding its capabilities in the travel and meetings market.
With the closing of this acquisition, Amex GBT is thrilled to welcome CWT’s diverse customer base and talented employees into its ecosystem. This integration will provide CWT customers with exclusive access to Amex GBT’s advanced suite of proprietary travel and expense management software solutions.
Among these are Neo and Egencia, which are designed to streamline travel processes and enhance user experiences. Additionally, the Select platform enables seamless integration with leading technology partners, ensuring clients enjoy a cohesive and efficient travel management experience.
The acquisition of CWT further strengthens Amex GBT’s position in the industry, allowing for even greater opportunities and innovations in travel management. Looking ahead, Amex GBT is set to provide updated guidance for the full year of 2025, which will include insights into how the acquisition of CWT affects its overall business outlook. This information will be shared during the upcoming earnings call in November.
KEY QUOTES:
“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. This acquisition will generate greater investment capacity for our software and services and is expected to create significant shareholder value through efficiency gains.”
Paul Abbott, CEO of Amex GBT
