Who Bought Whom in 2023
Mergers and acquisitions in the business travel industry in 2023 weren't frenetic, but there were a few big deals. Navan and Gray Dawes Group each expanded geographically; tech firms like Emburse and Travelport diversified their services, and several other...
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As far as merger and acquisition activity in the business travel industry goes, 2023 won't be remembered as particularly frenzied. But while the sheer number of tie-ups may not compare with hectic years past, last year's M&A roster still contained some big deals.
Cvent, Deem and Tripbam were all on the move, Hawaiian Airlines looks likely to do so, too. (Unlisted below is Choice International's in-progress pursuit of Wyndham Hotels & Resorts.)
The year's business travel M&A landscape also underscored a few other trends.
TMCs further globalize. A few travel management companies in 2023 grew by acquisition, including some that furthered their geographic reach, particularly Navan's acquisition of Bengaluru-based travel and expense management company Tripeur, which the company said will boost its ability to provide online travel management services in India, and Gray Dawes Group's acquisition of Florida-based Express Travel, which allowed the U.K.-based TMC to enter the United States.
Tech firms broaden offerings. A few large travel tech companies notably broadened their offerings, including travel and expense platform Emburse's acquisition of corporate travel reshopping platform Tripbam and global distribution system provider Travelport acquiring corporate travel management platform Deem.
The following are all mergers and acquisitions covered by BTN and sibling outlet The Beat in 2023.
Travel Management Companies
Navan
acquired Tripeur
Clarity
Business Travel acquired Agiito
Gray Dawes
acquired Express Travel and MP Travel
Tower
Travel Management "joined" Frosch
InteleTravel
acquired Hickory Global Partners
Aviation
Alaska
Airlines agreed to acquire Hawaiian Airlines
Lodging/Event Venues
Blueground
acquired Nestpick and Travelers
Haven
Convene
acquired Etc.venues
Travel Technology
Emburse
acquired Tripbam
Travelport
acquired Deem
ATPCO
acquired 3Victors
Snowfall
acquired AmigoGo
Wings
Global Travel acquired Alchimea
CDS Groupe
acquired Corporate Rates Club
Mondee
acquired Orinter
OAG
acquired Infare
Payment and Expense
SEB Kort
Bank AB acquired AirPlus
American
Express acquired Nipendo
Meetings Technology
Blackstone
acquired Cvent
Swiss Post
acquired a majority stake in SpotMe
BTN sibling publication BTN Europe covered several additional deals in 2023. Read about them here.
