American Express Acquires Airport Lounge App LoungeBuddy
March 11 2019 - 3:20PM
Dow Jones News
By Patrick Thomas
American Express Co. (AXP) said Monday it is acquiring the
airport lounge finder app LoungeBuddy as the credit-card company
looks to expand one of its most popular rewards to premium card
members.
The app LoungeBuddy allows travelers to find, book and access
airport lounges worldwide. The acquisition is expected to be
completed in April. Financial terms of the deal weren't
disclosed.
AmEx said it has partnered with LoungeBuddy since 2017 to
provide information to its mobile app for the more than 1,200
airport lounges that its platinum card and centurion members can
access.
The San Francisco-based LoungeBuddy app was founded in 2013.
After the acquisition, AmEx said the app will operate as a
wholly-owned subsidiary under the leadership of its original
founders.
"The expansive airport lounge access we offer our premium card
members through the global lounge collection is among the most
popular travel benefits we offer," the company said in a statement.
"With the acquisition of LoungeBuddy, we will be able to leverage
its cutting-edge platform to develop additional ways to become an
essential part of our Card Members' digital lives."
Write to Patrick Thomas at patrick.thomas@wsj.com
(END) Dow Jones Newswires
March 11, 2019 16:05 ET (20:05 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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