Investment and tech firm Long Lake says it will buy corporate travel operator Amex GBT for $6.3B, citing AI's ability to modernize the business travel sector
Reuters
Related Coverage
- Long Lake Buys Amex GBT for $6.3 Billion to Scale Applied AI PYMNTS
- Long Lake Agrees to Acquire American Express Global Business Travel, the World's Largest Corporate Travel Platform, for $6.3 Billion, With Support From General Catalyst and Alpha Wave Amex GBT
- Amex GBT agrees to $6.3 billion take-private deal with Long Lake Yahoo Finance · Cris Tolomia
- Amex GBT's 12-Year Ownership Saga — Who Won and Lost Skift · Rafat Ali
- American Express Global Business Travel Enters $6.3 Billion Take-Private Deal Wall Street Journal · Connor Hart
- American Express Global Business Travel To Be Acquired By Long Lake For $6.3 Billion Pulse 2.0 · Amit Chowdhry
- Amex GBT to Be Acquired by General Catalyst-Backed Long Lake for $6.3 Billion Skift · Dennis Schaal
- Amex to sell travel unit stake for $1.5B Payments Dive · Lynne Marek
Discussion
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@trace_cohen
Trace Cohen
on x
This is huge! 1) Steve CEO of AMEX now is the 🐐 - really inspired me when I worked there bc I believed in him. And now he has $1B+ for investment + M&A “$1.5 billion and to recognize a pre-tax gain of approximately $975 million.” 2) Don't forget the former CEO of AMEX Ken
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@willmanidis
Will Manidis
on x
“deal guy yuga” i dont think anyone understands whats coming [image]
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@packym
Packy McCormick
on x
Bigger target than I was expecting for the AI rollups. [image]
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@julianklymochko
Julian Klymochko
on x
The trend of AI-enabled private equity funds acquiring SaaS businesses at large premiums is just beginning [image]
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@nicitaalex
Alex Nicita
on x
@packyM Travel was the least deployed domain. Seems smart to put the best talent on it, unless Google takes their travel monopoly and staffs an elite Gemini team on this, which I imagine they will now
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@skift
@skift
on x
Long Lake Management, backed by General Catalyst and Alpha Wave, will acquire Amex GBT for $6.3 billion in cash. Shareholders will receive $9.50 per share, representing a 60.2% premium over the May 1 closing price. Major investors, including American Express, Expedia, Qatar
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@mollysoshea
Molly O'Shea
on x
@packyM GC wants global dom
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@nikmilanovic
Nik
on x
Biiiiiiiiiiig fintech news today: Long Lake Management, a startup backed by @generalcatalyst, agreed to acquire @AmexBusiness Global Business Travel (Amex GBT) for approximately $6.3 billion. This is probably mixed news for @tryramp, @brexHQ, and @Navan. Validation that there's […