With the announcement of its $570 million acquisition of rival mega travel management company CWT, American Express Global Business Travel, led by CEO Paul Abbott, has set the stage for one of the largest TMC mergers in recent history.
The acquisition even outsizes some of the big mergers that have built Amex GBT into what it is today. When it was announced in March, the TMCs reported that CWT was projected to have $14 billion in total transaction value this year and $850 million in revenue. Merging with Amex GBT would add about 4,000 customers and boost Amex GBT’s TTV by 45 percent and revenue by 33 percent.
By comparison, Amex GBT’s 2018 acquisition of HRG, then the fourth-largest TMC, boosted its TTV by 25 percent. When it acquired…
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