American Express GBT to Acquire DER Business Travel in Germany
American Express Global Business Travel (GBT) intends to acquire DER Business Travel (DER) in Germany, the corporate travel arm of the DER Touristik Group, a diversified retail and tourism company. The acquisition is conditioned on receipt of antitrust approvals and is expected to close in the third quarter of this year. The purchase would expand GBT’s footprint into Germany’s small and mid-sized clients sector. DER’s travel management offering would be enhanced by GBT’s international scale and global network, according to an announcement. In addition, DER’s corporate clients would have access to GBT’s travel and expense ecosystem and core technology platform. Elyes Mrad, GBT’s senior vice president and managing director, international, said that GBT services many global and multinational clients while DER is focused on small to medium-sized enterprises trading in Germany. DER’s corporate travel business is headquartered in Frankfurt and operates in 42 locations across Germany.