Technology news and briefs for the week of June 12, 2022:
Business payments company Fleetcor Technologies Inc. is set to increase scale with the close of an acquisition in the fourth quarter of this year.
The company has signed a definitive agreement to acquire UK-based cross-border payments provider Global Reach Group, which serves thousands of customers of all sizes – primarily in the UK and Canada – by facilitating international payments. Financial details were not disclosed.
“Global Reach is a fantastic addition to our existing cross-border business that can be quickly integrated into our global business,” said Ron Clarke, chairman and CEO of Fleetcor. “We anticipate the deal to be immediately accretive post-close with additional synergies to layer in during year two.”
The acquisition provides an overlapping footprint to Fleetcor’s current cross-border payments business.
