Carlson Wagonlit Travel is acquiring another business travel services provider, TQ3Navigant, in a $510 million deal.

Minnetonka-based Carlson Wagonlit, a unit of Carlson Cos., said the transaction will double its share of the North American business travel management market to 8.9 percent. That would put it behind only American Express.

Carlson Wagonlit said it would have an 8.8 percent share worldwide, second to American Express' 9.9 percent share. Carlson Wagonlit would not put a dollar value on the markets.

But the company did say the deal figures to boost its annual revenue by about $500 million to $1.7 billion. The transaction also expands Carlson Wagonlit's presence in Australia and New Zealand.

The combined company will operate in more than 150 countries and have approximately 22,000 employees.

"Navigant is an important acquisition for Carlson Wagonlit that greatly strengthens our competitive position in North America and in Asia Pacific," said Hubert Joly, president and chief executive officer of Carlson Wagonlit, in a prepared statement. "It builds upon our momentum and expands Carlson Wagonlit's leadership in the business-travel market."

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