GBTG - Amex GBT Expands Empire: Acquires CWT For $570M In Bold Business Travel Move | Benzinga
American Express Global Business Travel (Amex GBT), operated by Global Business Travel Group, Inc (NYSE:GBTG), entered a definitive agreement to acquire CWT, a global business travel and meetings solutions provider. The transaction values CWT at approximately $570 million on a cash-free, debt-free basis.
CWT serves 4,000 customers and is expected to generate about $850 million of revenues and $70 million – $80 million of Adjusted EBITDA in 2024.
“Bringing CWT onto the proven Amex GBT software and services model will create more choice for ...