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FLEETCOR to acquire Cambridge Global Payments

Tuesday 2 May 2017 | 01:13 PM CET

FLEETCOR Technologies has announced that it has signed a definitive agreement to acquire Cambridge Global Payments a B2B international payments provider.

Cambridge, founded in 1992, processes over USD 20 billion in B2B cross-border payments annually. Its proprietary technology serves the needs of SMB and mid-cap businesses.

The transaction price is approximately USD 675 million, which will be financed using a combination of existing cash and borrowings under FLEETCOR’s existing credit facility. The transaction is expected to close in the third quarter of 2017, subject to regulatory approval and the satisfaction of customary closing conditions.

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