Consumer Services M&A » By The Online Investor Staff, updated Wed., Apr. 24, 9:09 PM
Recent mergers and acquisitions in the Consumer Services M&A category.
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Slide #15. WEX — ExxonMobil's European Commercial Fuel Card Program
Acquirer:
WEX (WEX)
Acquiree:
ExxonMobil's European Commercial Fuel Card Program (XOM)
Details:
WEX Inc. (NYSE:WEX), a leading provider of corporate payment solutions, today announced that it plans to acquire the assets of ExxonMobil's European commercial fuel card ("Esso Card") program through a majority owned joint venture, WEX Europe Services Limited. The anticipated transaction is subject to completion of the employee information and consultation processes, and obtaining of competition authority approvals, as appropriate. Upon completion of the employee information and consultation process, WEX expects to enter into a definitive purchase and sale agreement related to the proposed acquisition with ExxonMobil. In addition, both parties plan to enter into a long term supply agreement to serve the current and future Esso Card customers and to grow the business.
Wex is a global commerce platform. Co. operates in three reportable segments: Fleet Solutions, which provides fleet vehicle payment processing, transaction processing and information management services designed for the needs of fleets of all sizes from small businesses to federal and state government fleets and over-the-road carriers; Travel and Corporate Solutions, which focuses on the payment environment of global business-to-business payments; and Health and Employee Benefit Solutions, which provides software-as-a-service platforms, bringing together benefits administration, certain compliance services and consumer-directed and benefits accounts.
WEX SEC Filing Email Alerts Service
Open the WEX Page at The Online Investor »
Wex is a global commerce platform. Co. operates in three reportable segments: Fleet Solutions, which provides fleet vehicle payment processing, transaction processing and information management services designed for the needs of fleets of all sizes from small businesses to federal and state government fleets and over-the-road carriers; Travel and Corporate Solutions, which focuses on the payment environment of global business-to-business payments; and Health and Employee Benefit Solutions, which provides software-as-a-service platforms, bringing together benefits administration, certain compliance services and consumer-directed and benefits accounts.
WEX SEC Filing Email Alerts Service
Open the XOM Page at The Online Investor »
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