TECH - Masayoshi Son's SoftBank-Backed Travelperk Acquires AmTrav Rakes Up $135M From Blackstone Blue Owl To Boost US Expansion | Benzinga
In a strategic move to bolster its U.S. presence, SoftBank-backed global business travel management platform, TravelPerk, has acquired American industry leader AmTrav.
What Happened: According to a press release by TravelPerk on Tuesday, the Barcelona-based firm has bought Chicago-based AmTrav, a forerunner in the business travel industry. This acquisition is a key part of TravelPerk’s plan to strengthen its U.S. expansion.
Both firms aim to utilize their proprietary technology, artificial intelligence capabilities, and increased resources to further enter the U.S. market, which recorded a business travel expenditure of $329 billion in 2023, as per the Global Business Travel Association.
In addition, TravelPerk has secured a new credit facility of ...