A global corporate payments company, FLEETCOR Technologies, has announced the acquisition of a UK-based cross-border payments provider, Global Reach Group.
FLEETCOR Technologies chairman and chief executive officer, Ron Clarke, on Friday confirmed the acquisition in a statement seen by Ripples Nigeria.
FLEETCOR Technologies, according to local media, helps businesses spend less by providing innovative solutions that enable and control expense-related purchasing and payment processes.
The 36-year-old company was founded by Ron Clarke with Headquarters in Greater Atlanta Area, East Coast, Southern US.
Ripples Nigeria gathered that Global Reach Group, on the other hand, was founded in 2001, and operates as a cross-border payments provider with presence in the UK, Canada, Spain, and the Netherlands.
Clarke, while commenting on the new acquisition, said it will increase FLEETCOR’s cross-border payments scale.
He said: “Global Reach is a fantastic addition to our existing cross-border business that can be quickly integrated into our global business.
“We anticipate the deal to be immediately accretive post-close with additional synergies to layer in during year two.”
By Kayode Hamsat
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