Will Anything Change at American Express GBT With New Investor Money?
Skift Take
The travel management company is now valued at $5 billion, but so far its strategy seems pretty much the same: make acquisitions, especially in tech.
Mega travel management company American Express Global Business Travel is getting even bigger, ramping up for years of growth as a private company.
The company announced Tuesday it had signed an equity recapitalization agreement, which will allow it to double down on its strategy of adding tech features, and snapping up small and mid-sized travel companies in new markets. New investors means new money coming in, and the company is free to stay private as it consolidates across the globe.
“We have plenty of capacity for [mergers and acquisitions]. Expect us to continue to make strategic acquisitions and continue to invest in advanced technology to meet our clients' evolving needs," said Greg O'Hara, the founder and senior managing director of investment management company Certares, the lead investor in the agreement.
A group headed by Cert
