American Express Global Business Travel is to acquire Egencia, Expedia Group’s corporate travel arm.
GBT has made a binding offer that will see Expedia Group become a shareholder in GBT and enter a long-term strategic commercial agreement with it.
GBT said it would continue to invest in the Egencia brand.
Paul Abbott, GBT chief executive, said: “Egencia would be strengthened by GBT’s complementary technology, enterprise capabilities and cutting-edge content.
“This would create new opportunities for both multinational and small and medium-sized enterprise clients, suppliers and the talented teams within both organizations.”
Ariane Gorin, Expedia Business Services president, said: “Expedia Group strongly believes in the robust return of travel, including in the corporate space.
“We’re excited about our potential ownership in GBT and our long-term arrangement to power Egencia and GBT, as we do for thousands of other travel companies.”