American Express Completes Acquisition of Center

 American Express (NYSE: AXP) today announced that it has completed the previously announced acquisition of Center, a software company modernizing expense management for small to medium sized businesses.

With this acquisition, American Express will integrate Center’s expense management technology with American Express’ corporate and small business cards to deliver more value and enhanced experiences for our commercial customers.

“I am pleased to welcome the Center team to American Express and add their technology and capabilities to our B2B offerings,” said Raymond Joabar, Group President, Global Commercial Services at American Express. “Together, we will work to enhance the value of our commercial cards through a seamless card-based expense management platform that automates the entire process, from program and policy set-up, to point of spend, to accounting.”

Center was founded in 2018 with a vision to transform expense management. Since then, the company has helped provide customers real-time visibility into employee spending, automate manual accounting tasks, and streamline expense submissions and reporting.

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This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements, which are subject to risks and uncertainties, contain words such as “expect,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “continue” and similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Actual results may differ from those set forth in the forward-looking statements due to a variety of factors, including those described in American Express’ Annual Report on Form 10-K for the year ended December 31, 2024 and its other reports filed with the SEC. The company undertakes no obligation to update or revise any forward-looking statements.