AmEx GBT has over the past year strengthened its business by acquiring several companies, including Ovation Travel Group, Expedia Group's corporate travel arm Egencia and 30SecondsToFly, a travel tech startup that uses artificial intelligence.
The combined company will be renamed Global Business Travel Group after the deal, but it will continue to do business under the AmEx GBT brand name. The merger is expected to close in the first half of 2022, after which the company will trade on the New York Stock Exchange under the symbol "GBTG." Special-purpose acquisition companies , or blank-check firms, are shell companies that are raised with the intention of merging with a private entity to take it public by sidestepping a traditional initial public offering.Reporting by Sohini Podder in Bengaluru; Editing by Aditya SoniSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.