Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  FLEETCOR Technologies, Inc.    FLT

FLEETCOR TECHNOLOGIES, INC.

(FLT)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

FLEETCOR Technologies : to Acquire AFEX, a Leading Cross-Border Payments Provider

share with twitter share with LinkedIn share with facebook
09/17/2020 | 04:07pm EDT

 Acquisition complementary to Cambridge Global Payments cross border business; Expected to be accretive in 2021

FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global business payments company, today announced it has signed a definitive agreement to acquire Associated Foreign Exchange (AFEX), a cross-border payment solutions provider. By acquiring AFEX, FLEETCOR will build upon its corporate payments line of business and strengthen its position as one of the largest business payments companies in the world. The transaction is expected to close in the first quarter of 2021, subject to regulatory approval and standard closing conditions.

AFEX delivers simple and seamless cross border payment solutions that help small-and medium-sized businesses (SMBs) break down currency barriers to grow internationally. The company focuses on providing international accounts payables products for businesses typically underserved by banks.

With more than 35,000 customers and over $22 billion in annual volume, AFEX is one of the world’s largest non-bank cross-border payment solution providers, processing global payments in more than 100 currencies.

“AFEX is a terrific business, with revenues growing double digits over the last 3 years. Its large European and Asia Pacific client base complements our existing Cambridge cross-border business, which is more North America focused,” said Ron Clarke, Chairman and CEO of FLEETCOR.

Both companies offer ERP integrated cross border payment and risk management solutions to businesses.

“FLEETCOR’s broad corporate payments portfolio and S&P 500 profile will help us better serve clients in creating unique solutions for their FX needs,” said Jan Vlietstra, CEO of AFEX.

Eversheds Sutherland provided legal counsel to FLEETCOR. Greenberg Traurig provided legal counsel to AFEX, and BofA Securities provided strategic and financial advice to AFEX.

About FLEETCOR

FLEETCOR Technologies (NYSE: FLT) is a leading global business payments company that simplifies the way businesses manage and pay their expenses. The FLEETCOR portfolio of brands help companies automate, secure, digitize and control payments on behalf of their employees and suppliers. FLEETCOR serves businesses, partners and merchants in North America, Latin America, Europe, and Asia Pacific. For more information, please visit www.FLEETCOR.com.

About AFEX

AFEX is a trusted global payment and risk management solutions specialist with a heritage that dates back to 1979. We offer a comprehensive range of global payment, foreign exchange, and risk management services. We can handle every aspect of a client’s foreign payment needs, from risk consultation to transaction execution, and have a diverse client base. We recognize the distinct requirements of each of our clients and take considerable pride in creating unique and strategically adept global payment and foreign exchange solutions to meet our clients’ financial goals. For more information, please visit www.afex.com.

© Business Wire 2020

share with twitter share with LinkedIn share with facebook
All news about FLEETCOR TECHNOLOGIES, INC.
09:01aCAMBRIDGE GLOBAL PAYMENTS : Announces New Endorsement Partnership with Associati..
BU
10/16FLEETCOR TECHNOLOGIES : Stored Value Solutions Introduces Solutions B2B
PR
10/14CAMBRIDGE GLOBAL PAYMENTS : & Ripple Partnership Goes Live
BU
10/07FLEETCOR TECHNOLOGIES : Teletrac Navman Expands Integration With FLEETCOR Techno..
AQ
09/17FLEETCOR TECHNOLOGIES : to Acquire AFEX, a Leading Cross-Border Payments Provide..
BU
09/10FLEETCOR TECHNOLOGIES : Comdata Launches Virtual Comchek, a One-Time Use Digital..
BU
09/09FLEETCOR TECHNOLOGIES : to Participate at Upcoming Investor Conferences
BU
09/04FLEETCOR TECHNOLOGIES : Change in Directors or Principal Officers, Financial Sta..
AQ
09/01FLEETCOR TECHNOLOGIES : Introduces First U.S. Fleet Card With 100% Tailpipe Emis..
BU
08/17CAMBRIDGE GLOBAL PAYMENTS : Announces New Endorsement Partnership with the Austr..
BU
More news
Financials (USD)
Sales 2020 2 397 M - -
Net income 2020 679 M - -
Net Debt 2020 3 364 M - -
P/E ratio 2020 31,3x
Yield 2020 -
Capitalization 20 410 M 20 410 M -
EV / Sales 2020 9,92x
EV / Sales 2021 8,64x
Nbr of Employees 8 700
Free-Float 65,5%
Chart FLEETCOR TECHNOLOGIES, INC.
Duration : Period :
FLEETCOR Technologies, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FLEETCOR TECHNOLOGIES, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 285,10 $
Last Close Price 242,83 $
Spread / Highest target 33,4%
Spread / Average Target 17,4%
Spread / Lowest Target 2,95%
EPS Revisions
Managers
NameTitle
Ronald F. Clarke Chairman, President & Chief Executive Officer
Charles Richard Freund Chief Financial Officer
Scott A. duFour Global Chief Information Officer
Mark A. Johnson Independent Director
Steven THeodere Stull Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
FLEETCOR TECHNOLOGIES, INC.-16.05%20 303
SQUARE, INC.198.85%82 923
FISERV, INC.-14.61%66 121
GLOBAL PAYMENTS INC.-5.80%51 461
AFTERPAY LIMITED248.16%19 655
PAGSEGURO DIGITAL LTD.13.41%12 705