American Express is taking over the company Center, which specialises in managing business travel expenses.
American Express has reached an agreement to acquire Center, a provider of payments and expense management technology. The acquisition aims to create an integrated expense management platform that will connect Amex's corporate and business cards with Center's advanced software solutions.
The centre was founded in 2017 and its co-founder is Steve Singh, known for his work at Concur and investments in travel technology, including Spotnana, Troop and Direct Travel. Center's CEO, Naveen Singh, said the acquisition supports the company's vision of deeply connecting travel and expense management.
The integration of Amex cards and Centra's software will enable the creation of advanced solutions for managing business expenses, particularly for small and medium-sized enterprises. The transaction is expected to be completed in the second quarter of this year, subject to the fulfilment of standard regulatory requirements.
Although Center currently uses Mastercard's payment platform, it has not been announced how this will change after the takeover. Steve Singh emphasised that Center's collaboration with his other investments, such as Spotnana, will remain strong and that customers will benefit from an improved offering.
