American Express Global Business Travel consents to Agency acquisition
A binding bid to buy Egencia, the corporate travel branch of the Expedia group, was made by American Express Global Business Travel (GBT).
Expedia Group would be part of the acquisition and would enter into a long-term strategic commercial arrangement with GBT.
"Our objective is to give consumers the greatest choice by having the greatest solutions for each managed travel segment we service." Paul Abbott, Chief Executive Director of GBT.
"We would welcome the premier digital travel business platform for the sector in Egencia.
GBT's complementary technology, corporate skills, and state-of-the-art content would boost Egencia. This would give new chances for customers, suppliers, and skilled teams, both multinational and small and medium firm."
GBT and Egencia would, together, offer complete technology and customer solutions in all business travel segments.
Expedia Business Services President Ariane Gorin says: "With Expedia's aim to simplify and become a leading provider in all our projects, we are delighted about the potential transactions that GB T and Euridad are able to achieve together.
"The mix of premier GBT solutions with the amazing technology and team of Egencia would assist to build the greatest business voyage offers for clients and suppliers worldwide."
The proposed agreement will be subject to discussions with the employee representatives and to usual conditions of conclusion including regulatory authorizations by Expedia Group and Egencia.
For the deal, no financial information has been provided.