Amex GBT to Buy Corp Travel Agency Egencia From Expedia
Photo Credit: Egencia is being sold to American Express Global Business Travel. Wikimedia Commons / Annie Egencia
Skift Take
The pandemic dust is settling, and now we're really starting to see consolidation take hold in the corporate travel sector. There's safety in numbers in the future.
American Express Global Business Travel said it has made a binding offer to acquire Egencia, Expedia Group’s corporate travel arm.
As part of the transaction, announced Tuesday, Expedia Group will become a shareholder in, and enter a long-term strategic commercial agreement with Amex GBT.
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. No financial deal terms were disclosed.
Lodging Focus
Amex GBT said it wants to team Egencia with its Supply MarketPlace, and any deal would give it a significant boost. Could the acquisition be nothing more than a glorified content deal?
"We are creating the most valuable marketplace in travel," said Paul Abbott, Amex GBT’s CEO, in an interview with Skift. "That rea
