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BBT March/April 2019 cover
March/April 2019

American Express GBT buys HRG

HRG logo

American Express Global Business Travel (GBT) has announced it will acquire Hogg Robinson Group (HRG), subject to anti-trust approval.

The agreement is a recommended all-cash acquisition of the entire issued and to be issued ordinary share capital, according to American Express GBT. It is expected to be completed in the second quarter of 2018.

The TMC says the combined group will be able to offer clients and travellers a more comprehensive range of products and services. Both companies will now be able to combine their technology and development platforms, create cost savings through synergies and leverage each other’s infrastructure to “maximise efficiencies”.

Doug Anderson, CEO of 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, CEO of HRG, added: “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 at American Express GBT, said: “The Board of Directors of GBT strongly endorses the acquisition of Hogg Robinson. Significant customer, operational and financial benefits are expected. This will enable the combined group to focus on additional value creation for customers and the marketplace, while generating new efficiency and growth opportunities for the business. I am excited at the prospect of creating a truly world class travel management company using the best available talent from both Hogg Robinson and GBT. Customers and travellers will benefit from the Combined Group’s complementary geographical footprint and technology offering. This combination will unlock meaningful value for all stakeholders.”

HRG has also announced that it will sell its software-as-a-service technology business, Fraedom, to Visa for £141.75 million, which is expected to be completed by March 2018.

American Express GBT values HRG’s total shares between £376 million and £410 million.

HRG was number two on our list of the 50 Leading TMCs in 2017, with annual sales estimated at £1.12 billion, while American Express GBT was number three with estimated annual sales of £865 million.


Fine being big TMC but American Express needs to sort themselves out first. A BIG machine with LITTLE customer service....

Andy R.'s picture
Andy R. (not verified)

Mating two donkeys doesn't produce a racing horse...

Anonymous's picture
Anonymous (not verified)

I work for HRG and am very proud of what we do and how we do it. This is an excellent opportunity for those who embrace future technologies and excellent customer engagement

Anonymous's picture
Anonymous (not verified)

I see this acquisition as a positive.

Anonymous's picture
Anonymous (not verified)

This is a bold move. A step change opportunity to create a world class business that can deliver for its customers through scale, experience and leading-edge technology. Exciting times for our sector.

Steve Allen's picture
Steve Allen (not verified)

What will happen to dnata employees working for hrg

Noone's picture
Noone (not verified)

This is a great opportunity for other more customer-focused TMC's to grab new business while Amex tries to assimilate HRG. Biggest is rarely best when it comes to delivering value for the customer. The first two comments hit the button spot on.

Amazed's picture
Amazed (not verified)

dnata employees will continue to look after our customers - both global and regional. We will ensure that our mutual HRG customers get the best possible service and support, now and into the future.

Steve Allen's picture
Steve Allen (not verified)

Merging of two giants in this space, CWT what's your take?

Guga's picture
Guga (not verified)

CWT takes Clients ;)

Igor 's picture
Igor (not verified)

Will actual HRG partners go out of the organization?

Santiago 's picture
Santiago (not verified)

A chance for other TMCS to grab some clients

BTAM's picture
BTAM (not verified)

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