Amex GBT Changes Hands as It Enters a New Phase Marked by the Integration of CWT
The acquisition of American Express Global Business Travel (Amex GBT) by Long Lake Management, valued at approximately $6.3 billion, marks a new chapter for one of the world?s leading corporate travel groups. The transaction marks the company?s delisting from the stock exchange and comes at a time marked by the integration of CWT, the reorganization of some of its operations, and a growing commitment to artificial intelligence.
On September 29, Long Lake Management completed the acquisition of American Express Global Business Travel (Amex GBT), a transaction that values the company at approximately $6.3 billion and marks its delisting from the New York Stock Exchange.
The deal had been announced on May 4, 2026 and was approved by Amex GBT shareholders on August 3. The transaction provides for the payment of $9.50 in cash per share, representing a 65.1% premium over the weighted average price of the shares during the 30-day reference period prior to the announcement.
A New Chapter as a Private Company
Upon completion of the transaction, Amex GBT will operate as a private company owned by Long Lake Management. The company retains Paul Abbott, CEO of Amex GBT, at the helm.
The new ownership has made technological development and the application of artificial intelligence to the corporate travel business a top priority. Long Lake aims to combine its engineering capabilities with Amex GBT?s expertise and data to accelerate the development of new tools.
Among the areas highlighted is agent-based AI, with solutions designed to complement the work of the company?s professionals and improve the services offered to clients and travelers.
The integration of CWT, another major challenge
The change in ownership comes just over a year after Amex GBT completed, on September 2, 2025, the acquisition of CWT, one of the most significant transactions in recent years in the corporate travel sector.
The acquisition of CWT closed for approximately $540 million, on a cash- and debt-free basis and subject to the adjustments provided for in the transaction.
Amex GBT estimated at the time that the integration would yield approximately $155 million in annual synergies over the three years following the closing. The combination of the two companies significantly expanded the group?s size and its client portfolio in the international corporate travel market.
Reorganization of Operations in Spain
This new phase also coincides with a process to reorganize Amex GBT?s structure in Spain. According to information published by Hosteltur based on union sources, the proposed workforce reduction plan put forward by the companyaffects 116 employees in Madrid and Barcelona, approximately 35% of the workforce in the Corporate Travel division.
The process also includes the outsourcing of certain functions. Part of the billing tasks would be transferred to India, while some functions related to reservations would be handled from Mexico.
The workforce from CWT is not affected by this process, according to the same sources.
The reorganization in Spain and the push toward artificial intelligence are part of the context in which Amex GBT is embarking on this new phase, although there is no information available to establish a causal relationship between the implementation of these technologies and the workforce adjustments.
Artificial intelligence is gaining ground in corporate travel
Long Lake?s technological strategy positions artificial intelligence as one of Amex GBT?s key growth drivers. The stated goal is to use these tools to improve traveler service, automate certain processes, and support the work of the company?s professionals.
This move comes at a time of transformation for corporate travel management, as major companiesin the sector are increasing their investments in automation, data management, and artificial intelligence.
For Amex GBT, the change in ownershipadds a new dimension to a period already marked by the integration of CWT, the pursuit of synergies, and the reorganization of certain operations. Under the leadership of Paul Abbott, the company is now undertaking this transformation outside the stock markets, with Long Lake Management as its new owner.