American Express Global Business Travel has acquired CWT for approximately $540 million, aiming to enhance service offerings and unlock significant shareholder value through identified synergies.

Target Company Overview

American Express Global Business Travel (Amex GBT), a premier software and services company within the travel, expense, and meetings & events sectors, has successfully acquired CWT, a prominent global provider in business travel and meeting solutions. This acquisition, valued at approximately $540 million on a cash-free, debt-free basis, was finalized on September 2, 2025, following its initial announcement in March 2024. The integration of CWT's customers and employees into Amex GBT is expected to enhance the offering of software solutions and services tailored for travel management.

As a result of this acquisition, CWT's clientele will be able to access a range of proprietary tools offered by Amex GBT, including advanced travel and expense management software like Neo and Egencia. Additionally, customers will benefit from an extended array of professional services, encompassing consulting, sustainability, and event management solutions, which are designed to maximize value and streamline business travel.

Industry Overview in the United States

The business travel industry in the United States has rebounded post-pandemic, driven by a resurgence in corporate travel activities and the need for in-person collaboration. In an increasingly competitive market, companies are