Amex GBT's $570M Acquisition of CWT Reshapes Business Travel Industry

American Express Global Business Travel (Amex GBT) has entered into a definitive agreement to acquire CWT, a global business travel and meetings solutions provider, in a transaction valued at approximately $570 million. The acquisition is expected to close in the second half of 2024 and will be funded by a combination of stock and cash. After the acquisition, CWT customers will have access to Amex GBT’s proprietary software and services, and the combined company is expected to generate significant synergies. Amex GBT will hold an investor conference call on March 25, 2024, to discuss the acquisition.