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8-K - WRIGHT EXPRESS CORPORATION - WEX Inc. | b82692e8vk.htm |
EX-2.1 - EX-2.1 - WEX Inc. | b82692exv2w1.htm |
Exhibit 99.1
Wright Express Completes Acquisition of Australian Assets of Retail Decisions
Leading Australian Fleet and Prepaid Card Provider Transaction Expands International Footprint,
Diversifies Revenue,
and
Provides Immediate Earnings Accretion
Provides Immediate Earnings Accretion
SOUTH PORTLAND, Maine(BUSINESS WIRE)September 15, 2010Wright Express Corporation (NYSE: WXS)
today announced that it has completed the previously announced acquisition of the Australian assets
of Retail Decisions consisting of its fleet and prepaid card businesses from Palamon Capital
Partners, a private equity firm, and its co-investors Morgan Stanley Alternative Investment
Partners and AlpInvest Partners.
With the closing of the transaction, Wright Express will advance its long-term vision of providing
both payment processing and card issuance services internationally. In addition, the acquisition
furthers the companys strategy of expanding its footprint in key international markets and
diversifying its revenue.
We believe this transaction builds on our existing strategy in Europe and the Asia Pacific region
where we have been pursuing opportunities as a private label fleet card processor for major oil
companies, said Michael Dubyak, chairman and chief executive officer of Wright Express. We are
acquiring two highly profitable and well-run businesses, each of which is a leader in its
respective market within Australia. In addition, both Sue Hando, managing director for ReD Prepaid
and David Howell, managing director for ReD Fuel cards, bring a wealth of expertise in their
respective industries, and both will play a key role in driving growth for our combined company.
About Wright Express
Wright Express is a global provider of business payment processing and information management
solutions. The companys fleet, corporate, and prepaid payment solutions give customers
unparalleled security and control across a wide spectrum of business sectors around the world. The
companys subsidiaries include Wright Express Financial Services, TelaPoint, Pacific Pride, Europe,
Wright Express Prepaid Cards Australia, and Wright Express Fuel Cards Australia. Wright Express and
its subsidiaries employ more than 850 associates in five countries. For more information about
Wright Express, please visit http://www.wrightexpress.com.
Safe Harbor Statement/Forward Looking Statements
Statements in this press release regarding the transaction and future financial and operating
results, benefits of the transactions, future opportunities for the combined company, the
advancement of the companys long-term vision of providing both payment processing and card
issuance services internationally, the impact of the transaction on the companys international
expansion and any other statements about
the Companys managements future expectations, beliefs, goals, plans or prospects constitute
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995. Any statements that are not statements of historical fact (including statements containing
the words believes, plans, anticipates, expects, estimates and similar expressions)
should also be considered to be forward looking statements. There are a number of important factors
that could cause actual results or events to differ materially from those indicated by such
forward-looking statements, including the outcome of any legal proceedings that may be instituted
in connection with the transaction; difficulties in integrating the target or a failure to attain
anticipated operating results, each of which could affect the accretiveness of the acquisition; the
extent to which the company can realize synergies as a result of the transaction; and, the other
factors described in the Companys periodic reports and registration statements filed with the
Securities and Exchange Commission, which important factors are incorporated into this release by
reference. The Company undertakes no obligation to update forward looking statements to reflect
changed assumptions, the occurrence of unanticipated events, or changes in future operating
results, financial condition or business over time. Readers are further advised to review the Risk
Factors set forth in the Companys Annual Report on Form 10-K, which further detail and supplement
the factors described in this Safe Harbor Statement.
SOURCE: Wright Express Corporation
News media contact:
Wright Express
Jessica Roy, 207-523-6763
Jessica_Roy@wrightexpress.com
or
Investor contact:
Wright Express
Steve Elder, 207-523-7769
Steve_Elder@wrightexpress.com
Wright Express
Jessica Roy, 207-523-6763
Jessica_Roy@wrightexpress.com
or
Investor contact:
Wright Express
Steve Elder, 207-523-7769
Steve_Elder@wrightexpress.com