A venture backed by General Catalyst Partners is in the final stages of negotiating a purchase of Global Business Travel Group Inc., the travel‑technology platform that American Express spun out last year. Sources familiar with the talks say the deal could reshape the corporate travel services market, where consolidation has accelerated since the pandemic. The move follows Amex’s earlier spin‑off of corporate cards.

Industry observers note that Amex’s decision to divest reflects a broader strategy to focus on core financial services, while the buyer aims to leverage the platform’s data and client base to accelerate growth. If completed, the transaction would add a sizable B2B travel portfolio to General Catalyst’s growing fintech and enterprise software holdings. The target’s existing contracts with multinational firms promise immediate revenue upside.

Deal terms have not been disclosed, but sources expect a valuation in the high‑hundreds of millions, consistent with recent comparable transactions. The acquisition would give the investor a foothold in a market still rebounding from travel‑related disruptions, positioning it to benefit from corporate spend returning to pre‑COVID levels. Analysts anticipate the buyer will integrate the platform with its existing SaaS tools to drive cross‑selling.