American Express Global Business Travel (Amex GBT) has completed its acquisition of CWT, combining two major players in the business events sector.
The deal, which was first announced in March 2024 and valued at approximately US$540 million, is expected to create significant value for shareholders, with Amex GBT targeting approximately US$155 million in run-rate identified synergies within three years.
The acquisition will allow Amex GBT to invest more in its technology and services, offering CWT’s customers access to an expanded suite of tools and resources.
This includes proprietary travel and expense software like Neo and Egencia, as well as the Select platform, which integrates with leading technology partners. CWT customers will also benefit from Amex GBT’s comprehensive professional services, including consulting, sustainability solutions, and its extensive marketplace of competitive travel content.
Amex GBT, which is operated by Global Business Travel Group, said it will provide updated financial guidance for the full year on its next earnings call in November.
