American Express Global Business Travel (GBT) has announced it will acquire Hogg Robinson Group (HRG) PLC, with completion of the acquisition expected in the second quarter of 2018.
A statement from American Express GBT said that both companies have made significant investments in people and technology in recent years, and the combined group will offer clients and travellers a more comprehensive range of travel management products and services.
The takeover is valued at £400m, according to newspaper City AM.
Doug Anderson, chief executive officer, American Express GBT, said: "The complementary geographical footprints of each company will improve the global scale and reach of our business, enabling us to achieve efficiencies across a best-in-class platform and accelerate growth.
"The technology roadmaps of each business provide a powerful platform from which to drive future innovation. We will deliver a superior client and traveller experience through fully-integrated travel management solutions, including booking and expense management products."
David Radcliffe, chief executive officer, HRG, said: "This transaction represents a good deal for shareholders and stakeholders. I am particularly excited and heartened by American Express GBT’s reassurance that it will be utilising the best talent and technology from within both organisations to create a truly world-class, leading-edge organisation, which will bring benefits to our clients, colleagues and supplier partners alike."
Greg O’Hara, chairman of the board, American Express GBT, said: "The board directors of GBT strongly endorses the acquisition of Hogg Robinson. Significant customer, operational and financial benefits are expected."
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