All articles tagged with #cwt
AmexGBT has acquired rival travel management company CWT for $570 million, signaling a significant move in the business travel industry. The acquisition reflects AmexGBT's confidence in the eventual recovery of business travel despite the current challenges posed by the pandemic.
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.