American Express Global Business Travel (GBT) to Go Public via Business Combination with Apollo Strategic Growth Capital
December 3, 2021
American Express Global Business Travel (GBT) entered into a definitive business combination agreement with special purpose acquisition company Apollo Strategic Growth Capital (APSG) to create a large publicly traded B2B travel platform. The transaction is expected to provide up to $1.2 billion of gross proceeds (including an upsized $335 million PIPE) and is anticipated to close in the first half of 2022, subject to customary conditions.
- Buyers
- Apollo Strategic Growth Capital, American Express Company, Expedia Group, Certares
- Targets
- American Express Global Business Travel
- Industry
- IT Services
- Location
- New York, United States
- Transaction Type
- Growth capital
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American Express Global Business Travel Agrees to Acquire Egencia from Expedia Group
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American Express Global Business Travel Acquires Ovation Travel Group
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American Express Global Business Travel (GBT) has acquired Ovation Travel Group, including its brands such as Lawyers Travel and Chartwell Travel. The deal brings Ovation's high-touch corporate and luxury travel services and ~700 employees into GBT, giving Ovation access to GBT's global reach, technology platform and products; terms were not disclosed.
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American Express Global Business Travel Acquires AI Messaging Start-up 30SecondsToFly
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American Express Global Business Travel (Amex GBT) has acquired AI and messaging start-up 30SecondsToFly to integrate its conversational, AI-powered self-service technology into GBT's mobile and messaging channels. The acquisition (closed October 8) will enhance GBT's traveler messaging and automated servicing capabilities while the 30SecondsToFly AI developers join GBT's technology team; terms were not disclosed.
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