A Portland-based payment processor plans to acquire two other payment companies in a deal worth about $1.7 billion. WEX filed notices with federal regulators Friday of its intent to acquire eNett and Optal in a mostly cash deal, the Portland Press Herald reports. eNett is an Australia-based company that provides payment services in the travel industry, and Optal is a London-based company that optimizes business-to-business transactions. The acquisition will benefit WEX’s position in the global travel marketplace, said Melissa Smith, chairwoman and CEO. “This transaction strengthens our position outside of the U.S., adds a unique but complementary product suite, and brings a talented team with expertise in operating in international markets,” she said. WEX is expected to end 2019 with $1.7 billion in revenue, according to its last quarterly filing with the Securities and Exchange Commission. WEX’s board of directors have already approved the transactions; the company awaits regulatory approval.
Payment Processor Wex Announces Plans To Acquire 2 Companies
The Associated Press, Bangor Daily News
Sun, 01/26/2020 - 7:30am
Sections: u.s.
Topics: Maine Penobscot County Bangor
RELATED ARTICLES
- Did Donald Trump light the flame of Jan. 6?
More - Mainers are helping preserve a century-old amateur racing tradition
More - This is the cutest coyote trail cam video you’ll ever see
More - This retired eastern Maine UPS driver is trying his hand at standup comedy
More - Maine voters are divided on whom to hold accountable for economic woes
More
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more