AMERICAN
Express is to acquire Rosenbluth International to create the world’s largest
corporate travel management company.
The
deal – the value of which has not been disclosed – is subject to regulatory
approval but is expected to go through within a couple of months.
If
approved the Rosenbluth name – a long-established family-run business from
Philadelphia – will disappear.
Rosenbluth
manages corporate travel in 15 countries and posted global business travel
volume of over $3 billion in 2002.
Last year Amex booked global travel volume of $15.5
billion.