American Express Global Business Travel (Amex GBT), a major provider of corporate travel services, has been acquired by Long Lake Management in a cash deal valued at around $6.3 billion. The acquisition, first announced on May 4, 2026, and approved by shareholders on August 3, marks the end of Amex GBT's public trading status on the New York Stock Exchange. Shareholders received $9.50 per share, which is 65.1% more than the 30-day volume-weighted average price (VWAP) at the time of the deal. Now a private company, Amex GBT will continue its operations under new ownership. The acquisition was funded through equity from Long Lake's existing investors and Koch Equity Development, along with debt financing. Long Lake plans to combine its artificial intelligence (AI) engineering teams with those of Amex GBT to enhance the latter’s technological capabilities. The goal is to improve Amex GBT's ability to use AI in its services, particularly in helping travel agents with tasks like booking and planning trips. Paul Abbott, CEO of Amex GBT, said the partnership would allow the company to "continue innovating with AI-assisted tools for travel advisors and their clients." Alex Taubman, co-founder and CEO of Long Lake, described the deal as an opportunity to "push the boundaries of AI in the travel sector." Long Lake Management, founded in 2023, is an investment firm that focuses on using artificial intelligence to transform service-based companies. Its strategy involves acquiring or investing in established service businesses and then applying its own AI platform, called Nexus, to help these companies grow and improve customer experiences. Long Lake claims to have already acquired or partnered with dozens of companies. The firm has received support from notable investors, including General Catalyst, Alpha Wave, Elad Gil, D1, and Thrive. The acquisition of Amex GBT represents a significant milestone for Long Lake, as it is one of the largest service companies in the world. This deal allows Long Lake to apply its AI-driven transformation model to a leading player in the business travel industry. The integration of Amex GBT into Long Lake’s portfolio is expected to expand the firm’s influence and demonstrate the effectiveness of its AI-focused strategy in enhancing service industries.