LONG LAKE TO ACQUIRE AMEX GBT FOR $6.3B

Long Lake announced the acquisition on Monday, positioning AI as central to modernizing the business travel sector. Amex GBT, a major corporate travel operator, will be integrated into Long Lake's investment and technology portfolio. The $6.3 billion valuation reflects growing interest in applying AI to travel management—from itinerary optimization to expense automation and vendor coordination. Long Lake's strategy suggests the corporate travel industry faces pressure to adopt AI-driven efficiency improvements. The deal size underscores confidence in travel sector recovery and digitization. Amex GBT serves thousands of corporate clients globally, handling bookings, expense management, and travel policy compliance. The transaction is expected to close pending regulatory approval and customary closing conditions. Details on integration plans and leadership structure were not immediately disclosed.