Amex GBT Closes Deal to Acquire CWT for $540 Million

American Express Global Business Travel has successfully completed its acquisition of Carlson Wagonlit Travel (CWT). The $540 million deal brings together two of the world’s largest travel management companies, though the final price is a drop from the original $570 million valuation.

With the deal now closed, all of CWT’s clients and employees will be integrated under Amex GBT. These clients will gain access to Amex GBT’s software solutions, including Neo, Egencia, and Select.

“Today marks the start of an exciting relationship with CWT customers,” said Paul Abbott, CEO of Amex GBT. “We will listen, build trust and deliver the choice, value and service they expect. This acquisition will generate greater investment capacity for our software and services and is expected to create significant shareholder value through efficiency gains.”

The deal was delayed by regulatory hurdles since its announcement. The U.K.’s Competition and Markets Authority delayed the deal in 2024 to investigate it under that country’s Enterprise Act 2022, but gave it a green light earlier this year. The last hurdle came when the U.S. Department of Justice sued to stop the deal in January over antitrust concerns. However, the DOJ, under a new administration, dropped the lawsuit last week just as it was about to begin, clearing the way for the acquisition to close.