FleetCor to Acquire Comdata for $3.45 Billion

FleetCor Technologies, Inc. (NYSE:FLT), a leading provider of fuel cards and workforce payment products, has announced that it has signed a definitive agreement to acquire Comdata Inc. from Ceridian LLC for $3.45 billion.

As an issuer and a processor, Comdata provides fleet, virtual card, and gift card solutions to over 20,000 customers.

It has approximately 1,300 employees and enables over $54 billion in payments annually.

The acquisition of Comdata is expected to provide a number of benefits to FleetCor:

• Expanding FleetCor’s North American fuel card business into new, unserved markets, thereby expanding potential.
• Enabling entry into the virtual payments space, an early innings high growth category that could one day be a very substantial business.
• Dramatically increasing FleetCor’s overall scale, earnings base, and diversity, further strengthening the company over the long haul.

Category: General Update