American Express Global Business Travel (GBT) has successfully completed the acquisition of Egencia, a digital travel management platform.
As part of the transaction, Expedia Group has become a shareholder in GBT.
Expedia has also entered into a long-term agreement to provide accommodations supply to GBT.
GBT and Egencia will together offer the leading solutions across every segment of business travel.
By teaming Egencia with GBT’s Supply MarketPlace, the company hopes to provide customers with more value and choice and offer suppliers enhanced access to business travellers.
Paul Abbott, GBT chief executive, said: “Bringing GBT and Egencia together will create a winning formula that will define the future of travel.
“We will provide unrivalled value, choice and experiences to customers.
“Unrivalled value because together we’ll have the best content and deliver the best savings.
“Unrivalled choice because no one comes close to the breadth and depth of solutions we will offer.
“And unrivalled experiences because we have the best people and technology in the industry.”
With the close of the transaction, Mark Hollyhead, president of Egencia, will continue to lead the Egencia business reporting directly to Abbott.