American Express Global Business Travel has agreed to merge with "blank-check" special purpose acquisition company Apollo Strategic Growth Capital in a deal that would take the company public with a $5.3 billion valuation. The combination is expected to close in the first half of 2022, pending shareholder and regulatory approvals. The company said the move would create the world's largest publicly traded business-to-business travel platform.
Coupa has notified several travel management company resellers and integration partners that it no longer will support Coupa Travel Saver as a standalone product. The price-assurance technology rose to prominence under the Yapta brand before Coupa acquired the company in late 2019.
Delta Air Lines for years has cajoled corporate booking systems to fully showcase the fare brands, bundles and products airlines offer. Delta managing director of global distribution Jeff Lobl on multiple occasions last month left little doubt the carrier wants Concur Travel, in particular, to move faster, or corporations to look elsewhere.
New Zealand-based T&E technology provider Serko on Wednesday announced a planned capital raise of around NZ$85 million (US$58.4 million), and has earmarked a portion of proceeds for "inorganic global expansion." Acquisition talks with an undisclosed technology business already are underway, according to investor disclosures.
Egencia last week announced "a major recruitment drive" to fill around 100 full-time positions in the United States, Europe and India, primarily for tech roles including product managers, engineers and data scientists. Other travel management companies with homegrown tech also are on the hunt for related talent. As Corporate Travel Management, CWT, TripActions and others ramp up tech hiring, they face a talent crunch that resounds well beyond travel.
For the past six years, the International Air Transport Association has measured adoption of New Distribution Capability technical standards by its airline members plus tech companies and retailers through a four-stage certification program. Now IATA is scrapping that program and a similar one for adoption of its OneOrder order management standards and rolling them into a new series of benchmarks branded as the Airline Retailing Maturity index.
U.S. Bank parent U.S. Bancorp on Tuesday announced a deal to acquire TravelBank and expects the transaction to close by year-end. The deal comes after months of increasingly close collaboration and development.
Adtrav is staffing up in anticipation of a spike in travel activity in the new year. The travel management company's recovery expectations are rooted in an ongoing resumption in travel among current clients, a run of new wins and "a little bit of faith," CEO and owner Roger Hale said in an interview this week.
Delta Air Lines on Wednesday announced it has signed Amadeus to a "multi-year, value-based distribution agreement," making Amadeus the last of the three major global distribution system operators to enter such a deal with the carrier.
Air bookings through travel agencies are at their strongest since the coronavirus pandemic began, global distribution system operators Amadeus and Sabre both reported this week.