An earlier version of this report did not state that American Express Global Business Travel is a joint venture 50% owned by American Express. It has been updated.
American Express Global Business Travel, a joint venture 50% owned by American Express Co. AXP,
has made a firm offer to purchase the Egencia business travel platform from Expedia Group Inc. EXPE,
according to a Tuesday morning press release. The deal would make Egencia part of American Express’s Global Business Travel (GBT) group. Through this agreement, Expedia Group intends to become a shareholder of GBT and to enter into a long-term business agreement with the group. “At Egencia, we would be pleased to welcome the industry’s leading digital business travel platform,†said Paul Abbott, Managing Director of GBT, in a statement. Expedia expects the supply agreement between the two companies “to significantly advance Expedia Group’s goal of propelling businesses across the ecosystem,” according to a statement by Ariane Gorin, President of Expedia Business Services, in the press release. Terms of the deal were not disclosed. American Express shares are down 1% in Tuesday morning trading while Expedia shares are down 1.9%.
