Long Lake to acquire Amex GBT for $6.3B in push toward AI-powered services

Investment and technology firm Long Lake announced on Monday (May 4) that it plans to acquire corporate travel operator American Express Global Business Travel for $6.3 billion in an all-cash transaction, driven by expectations that artificial intelligence will transform the industry.

American Express Global Business Travel (Amex GBT) — a provider of software and services for travel, expense management, and meetings and events — is run by Global Business Travel Group.

Long Lake, backed by General Catalyst and Alpha Wave, has agreed to pay Amex GBT shareholders $9.50 per share, representing a 60.2 per cent premium to Global Business Travel’s closing price on May 1, the last full trading session before the announcement.

The acquisition reflects Long Lake’s view that artificial intelligence can modernize the business travel industry.

The firm has already acquired and partnered with numerous service providers, aiming to accelerate growth and improve customer experience through its Nexus AI transformation platform.

The deal is expected to be completed in the second half of 2026, with Citigroup serving as lead financial adviser to Long Lake.

"The future of business travel will be defined by AI and human agents working seamlessly together on behalf of every traveller: faster ⁠booking times, proactive disruption resolution, and frictionless travel administration," said Long Lake CEO Alex Taubman in a statement.

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