Egencia is the world’s leading digital travel management company. With the backing of Expedia Group, the team has proven its value to customers for many years. GBT’s agreement to acquire Egencia, which we recently announced, is an exciting development for everyone involved. Of course, I must state up front that the transaction is subject to regulatory approval and consultation with employee representatives, but we are already planning for the future.
GBT’s strategy is to offer the best travel management solutions in every segment that we serve. In the global, multinational segment, we have built a strong position, delighting customers and growing our business consistently over many years. As part of our growth strategy, we identified opportunities to strengthen our value proposition for customers and accelerate the growth of our SME business.
For example, we acquired Ovation Travel Group, a recognised leader in providing best-in-class, white glove service to premium clients. Their knowledge and experience strengthens our offering for this very important customer segment. Customers can be very confident that Ovation will continue to provide the high-quality service for which they have become so renown, while also benefitting from GBT products, technology and global presence.
Similarly, Egencia’s proven expertise in digital-first global travel management would bring a new dimension to GBT and further expand the choice and value we deliver to customers. The Egencia team and Egencia customers should know that GBT is fully committed to the Egencia brand, the platform and the people. We are fully committed to investing in the platform, delivering even stronger content and experiences.
As part of this proposed deal, GBT would also be delighted to welcome Expedia Group as a shareholder. We already benefit from the powerful backing of American Express, Certares and some of the world’s foremost private equity investors. Adding Expedia Group as an investor is a real vote of confidence in our business, the opportunity ahead and the long-term growth potential of business travel.
Paul Abbott, CEO, American Express Global Business Travel