Amex GBT Acquires CWT
March 25, 2024
American Express Global Business Travel (Amex GBT), operated by Global Business Travel Group, Inc., agreed to acquire global business travel and meetings solutions provider CWT in a transaction valuing CWT at roughly $540–$570 million on a cash‑free, debt‑free basis. The deal brings CWT’s ~4,000 customers and technology/services into Amex GBT’s software and services ecosystem, and is expected to generate about $155 million of annual run‑rate synergies and expanded investment capacity in travel technology and services.
- Buyers
- American Express Global Business Travel (Amex GBT) / Global Business Travel Group, Inc.
- Targets
- CWT
- Sellers
- Investment funds affiliated with Redwood Capital Management, Monarch Alternative Capital
- Industry
- Professional Services
- Location
- Minnesota, United States
- Transaction Type
- Buyout
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