FLEETCOR reveals new alliance with cross-border payments firm


Joe Baker
Joe Baker
Senior Copywriter
Joe is a Senior Copywriter working on reports, news and analysis. Previously, he worked as a B2B copywriter, journalist and editor covering a broad range of topics, including technology, transport,… Read more
  • FLEETCOR, which offers international money transfer services for businesses, has announced that it will acquire Global Reach Group, a firm based in Britain.
  • It is expected that the deal will close towards the end of this year, though it is subject to approval from regulators.
  • “Global Reach is a fantastic addition to our existing cross-border business that can be quickly integrated into our global business,” said a senior figure at FLEETCOR.

FLEETCOR, a provider of global business payments has confirmed that it will be acquiring a British cross-border payments provider.

The firm said that it had made the move with Global Reach Group, which is based in the UK.

The acquisition will mean that FLEETCOR can build on its existing international money transfer scaling abilities.

It also means that it can build on its current place as one of the world’s biggest non-bank cross-border payment providers.

It is understood that the transaction will close later this year.

However, this is currently subject to regulators’ green lighting the arrangement – and closing conditions being met.

In a statement, a senior figure at FLEETCOR pointed out that the firm already has a cross-border payments business arm – which the newly acquired company would simply be adding to. 

Ron Clarke, who is the chairman and chief executive officer of FLEETCOR Technologies, Inc., said that Global Reach was a 'fantastic addition' to FLEETCOR's existing cross-border business.

“We anticipate the deal to be immediately accretive post-close with additional synergies to layer in during year two,” he said.

Press reports said that the law firm acting for FLEETCOR was Jones Day.

The firm working for Global Reach, meanwhile, was Eversheds Sutherland.

Financial and strategy advice for the latter firm was provided by Canaccord Genuity.

FLEETCOR and Global Reach have both established themselves as key providers in this space in recent years.

FLEETCOR, which is listed on the New York Stock Exchange, describes itself as a “leading global corporate payments company”.

It says that it “helps businesses spend less by providing innovative solutions that enable and control expense-related purchasing and payment processes”.

It works with firms in a number of nations and regions across the globe, such as Europe and Asia Pacific.

It also works in Latin America and North America.

Global Reach, meanwhile, is an international payments facilitator.

The firm has a wide range of corporate clients, though they are primarily located in Canada and the UK.

It is expected that the two companies will work together to identify areas where they can overlap.

The international money transfer sector is ever-changing – to get more information about what this sector can do for you, just head over to our website’s reviews pages,

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