American Express Global Business Travel (GBT) has made a binding offer to acquire Egencia, the business travel division of Expedia Group. As part of the transaction, Expedia Group will become a shareholder in, and enter into a long-term commercial agreement with, GBT.
With the agreement, Egencia, a leading digital travel management company, becomes part of the GBT family. GBT will continue to invest in the Egencia brand, employees and technology, as part of the world’s leading business travel platform.
Paul Abbott, GBT’s CEO said, “Our strategy is to provide our customers with an unparalleled offering through the best travel management solutions in every segment. With Egencia, we welcome the industry’s leading digital business travel platform.”
“Egencia is strengthened by GBT’s complementary technology, facilities and advanced offerings. This creates new opportunities for both multinational and SME customers, suppliers and the talented teams within both organizations.”
Together, GBT and Egencia offer a comprehensive range of technology and customer-focused solutions in every business travel segment. By combining Egencia with GBT’s Supply MarketPlace, one of the most comprehensive sources of offerings and experiences for business travelers, customers gain more choices and suppliers better access to business travelers.
Meanwhile, with the Egencia platform and GBT’s Neo Technology Group, the company will be able to offer the best solutions for the future of business travel.
Ariane Gorin, President of Expedia Business Services, said, “We are very excited about the potential transaction and what GBT and Egencia could achieve together, as Expedia Group strives to simplify our business and be a leader in everything we do. The combination of GBT’s industry-leading solutions and Egencia’s great technology and team is going to help create the best business travel offer in the world for customers and suppliers.
At the same time, with a greatly expanded, long-term accommodation supply agreement with Expedia Partner Solutions (EPS), GBT’s Supply MarketPlace is enhanced and significantly advances Expedia Group’s goal of driving business throughout the ecosystem.
“Expedia Group strongly believes in the robust return of travel, including business travel. We are excited about our potential stake in GBT and our long-term agreement to move Egencia and GBT forward, as we do for thousands of other travel companies,” adds Gorin.
The proposed agreement is subject to consultation between Expedia Group and Egencia and their employee representatives, as well as customary conditions, including legal approvals.
