American Express Global Business Travel (GBT)
has entered into an agreement to
acquire DER Business Travel (DER), the corporate travel arm of the
DER Touristik Group, a diversified retail and tourism company.
acquisition, which requires the necessary antitrust approvals,
is expected to close in the third quarter of this year.
The purchase will expand GBT’s footprint into
Germany’s small and mid-sized clients sector.
Elyes Mrad (pictured),
GBT’s Senior Vice President and Managing Director, International,
said, “Given the complementary nature of our businesses, the
acquisition is a great opportunity for everyone involved. GBT
services many global and multinational clients, while DER is
focused on small to medium sized enterprises trading in Germany.”
DER’s corporate travel business is headquartered in
Frankfurt and operates in 42 locations across Germany with
approximately 600 employees.
Mark Tantz, DER Managing Director, said, “This is
a special moment for DER Business Travel, its employees and its
clients. GBT and DER are both people-driven organisations with a
passion for providing the best technology and service to clients.
With GBT’s scale and proprietary tech stack and our expertise and
relationships in Germany, this is a real opportunity to offer a
new, collective value proposition to German businesses.”