American Express Global Business Travel (GBT) reports that it has completed its acquisition of DER Business Travel (DER BT), a travel management company based in Germany.
In a written statement GBT Senior Vice President and Managing Director, International Elyes Mrad said that the acquisition expands GBT’s footprint into the small and mid-sized client segment in Germany, combining GBT’s scale and technology with DER BT’s expertise and relationships in Germany.
“DER Business Travel has been a highly regarded travel management company in Germany for many years,” Mrad said.
In its statement announcing the close of the acquisition, GBT said that the DER BT brand will remain in place for “the time being.” The terms of the deal were not disclosed.
GBT was created in 2014 as a joint venture partnership between American Express and an investor group led by Certares. The business has focused on extending its global reach and scale with several strategic acquisitions, including the purchase in July 2018 of the Hogg Robinson Group (HRG). Currently, the organization comprises 17,000 travel professionals in more than 140 countries. GBT said that it will continue to look for further opportunities to grow.