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published in Blogs
May 04, 2021
American Express (AXP, $154.57) venture to acquire Expedia's corporate travel arm

American Express (AXP, $154.57) venture to acquire Expedia's corporate travel arm

On Tuesday, American Express Global Business Travel,  a joint venture 50% owned by American Express Co., announced that it planned to   acquire Egencia, the corporate-travel business of online travel-services company Expedia .

Under the proposed deal, Expedia will become a shareholder in and will enter into a long-term commercial agreement with Global Business Travel.

“In Egencia, we would welcome the industry's leading digital business travel platform," said Paul Abbott, the chief executive of GBT.

According to Expedia,  the supply agreement reached between the two companies will "meaningfully further Expedia Group's goal of powering businesses across the entire eco-system."  

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