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.
American Express (NYSE:AXP)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024 Click aqui para mais gráficos American Express.
American Express (NYSE:AXP)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024 Click aqui para mais gráficos American Express.