American Express Global Business Travel (Amex GBT) announced it has completed its acquisition of CWT, a global TMC and meetings solutions provider.

The transaction, originally announced in March 2024, values CWT at approximately $540 million on a cash-free, debt-free basis, subject to certain assumptions and purchase price adjustments. With the close of the acquisition, said the announcement, Amex GBT welcomes CWT’s customers and employees to its software solutions and services for travel, expense, meetings and events.

Paul Abbott, CEO of Amex GBT, said, “This acquisition will generate greater investment capacity for our software and services and is expected to create significant shareholder value through efficiency gains.”

CWT customers, said the announcement, now gain access to Amex GBT’s suite of proprietary travel and expense software solutions, including Neo and Egencia, as well as Select, which enables “seamless” integration with technology partners. They also benefit, said the announcement, from Amex GBT’s portfolio of professional services, spanning meeting and events, consulting and sustainability solutions.

Amex GBT said it will provide updated full-year 2025 guidance, including the impact of the acquisition of CWT, on its next earnings call in November. 

In a separate transaction, ATG Travel Worldwide, a TMC, announced the closing of its acquisition of CWT’s business travel operations in Germany. The acquired entity will be known as ATG Business Travel Management, GmbH and operate as a separate entity focused on the German market.