Amex GBT to Acquire Travel-Software Firm CWT for $570 Million

Global Business Travel Group Inc., partly owned by American Express Co., agreed to buy business-travel software firm CWT for about $570 million.

The deal will be financed with both stock and cash and is scheduled for completion in the second half of the year, according to a statement Monday. The acquisition of CWT, which has about 4,000 customers, is expected to generate about $850 million of revenue this year, according to American Express Global Business Travel, which is operated by Global Business Travel Group. About $155 million of synergies should result from the takeover, according to the statement. ...