FLEETCOR Technologies, Inc. acquired PayByPhone Technologies Inc. from Volkswagen Financial Services Aktiengesellschaft for approximately $300 million.
November 05, 2023
Share
FLEETCOR Technologies, Inc. (NYSE:FLT) acquired PayByPhone Technologies Inc. from Volkswagen Financial Services Aktiengesellschaft on September 15, 2023. Patrick Baldwin of Jones Day acted as legal advisor to FLEETCOR Technologies, Inc.
FLEETCOR Technologies, Inc. (NYSE:FLT) completed the acquisition of PayByPhone Technologies Inc. from Volkswagen Financial Services Aktiengesellschaft for approximately $300 million on September 15, 2023. FLEETCOR acquired PayByPhone for approximately $303.2 million, net of cash.
Corpay, Inc., formerly FLEETCOR Technologies, Inc., is a corporate payments company. It helps businesses and consumers pay expenses. Its suite of payment solutions helps its customers manage vehicle-related expenses, such as fueling and parking; travel expenses, such as hotel bookings, and payables, such as paying vendors. Its solutions include AP Automation, Cross-Border and Commercial Cards. Its AP Automation solutions include procure-to-pay, payment automation and integrations. Its Procure-to-Pay optimizes accounts payable workflows with scheduled payments, automated approvals and real-time tracking, and enables cash flow management and financial decisions. Its trading platform and integrated payment solutions, which can be customized as per clientâs business requirements. Its Multi-Card is a payment method that offers a tailored solution designed for the clientâs business transactions. Its ExpenseTrack platform offers real-time automation, robust security and customized reporting.
FLEETCOR Technologies, Inc. acquired PayByPhone Technologies Inc. from Volkswagen Financial Services Aktiengesellschaft for approximately $300 million.
CORPAY, INC. 
