46.4 F
New York
Saturday, January 16, 2021

WEX [NYSE: WEX] Reports The Completion Of Purchase Of eNett and Optal

Must read

Shutterstock [NYSE: SSTK] To Extend Its Agreement With EPA

Shutterstock reported that the company renewed its exclusive contract with the European Pressphoto Agency. The extended contract is to distribute the visual content...

Tencent Music [NYSE: TME] To Purchase 100% Equity Interest Of Lazy Audio

Tencent Music Entertainment Group reported that the company has signed a contract to purchase 100 percent shares of Lazy Audio. Lazy audio is...

Desktop Metal [NYSE: DM] Inks Agreement To Purchase EnvisionTEC

Desktop Metal reported that the company inked a definitive contract to purchase EnvisionTEC. Desktop Metal will purchase EnvisionTEC for a total consideration of...

Sequential Brands [NASDAQ: SQBG] Partnered With Omega Apparel To Create A New Collection

Sequential Brands Group reported that the company has collaborated with Omega Apparel for its denim business. With this partnership, the company will develop...

WEX Inc [NYSE: WEX] reported that the company has completed the purchase of eNett and Optal. Both Optal and eNett provide and specialize in B2B transactions and payment solutions.  The company paid a total of $577.5 million in cash to acquire eNett. This transaction will aid WEX in extending their B2B focused leadership team.

Anthony Hynes the former MD and CEO of eNett will now act as the president of the travel division of eNett. Meanwhile, Jay Dearborn will act as the president of the corporate payments. He will be responsible for Wex B2B payment products. Both Hynes and Dearborn will be reporting directly to the CEO Melissa Smith.

Moreover, contemporaneously with the finishing of the transaction, WEX and the previous investors of eNett and Optal have consented to a full and last settlement of the litigation forthcoming in the English courts relating to the previously announced acquisition contract.

More articles

Latest article

Marathon Petroleum [NYSE: MPC] Appoints New CFO

Marathon Petroleum Corp. reported that the company has named Maryann T. Mannen as the CFO and Executive V.P of the company. Maryann has...

QUALCOMM [NASDAQ: QCOM] Announces To Purchase NUVIA For $1.4Billion

QUALCOMM Incorporated reported that its unit, Qualcomm technologies inked a contract to purchase NUVIA.  The company will purchase NUVIA for nearly $1.4B. The...

Trivago [NASDAQ: TRVG] Reported The Purchase Of Weekend.com

Trivago reported that the company has purchased Weekend.com. Weekend it just started based in Germany, its main aim is to provide stimulating getaway...

Arthur J. Gallagher [NYSE: AJG] Reports To Purchase 100% of The Bollington Wilson Group

Arthur J. Gallagher reported that the company has inked a contract to buy 100% of the Bollington Wilson group. Bollington is an insurance...

Grainger [NYSE: GWW] Reports Changes In The Executive Leadership

Grainger reported changes in its Executive leadership. The leading supplier and distributor of MRO products appointed Deidra Merriwether as the Chief Financial officer....

Viasat [NASDAQ: VSAT] Inks A Contract With SKY To Expand The Distribution Of Satellite Internet

Viasat Inc reported that the company has inked a strategic collaboration with SKY brazil. The collaboration will expand the supply and availability of...

CyberOptics [NASDAQ: CYBE] receives MX3000 inspection systems orders worth $4.2M

CyberOptics Corporation reported that the company has received orders worth $4.2Million for its 3D MX3000 system from various sub-contractors.  These orders confirm the...

Thryv Holdings [NASDAQ: THRY] Is In Discussion To Purchase Sensis

Thryv holdings Inc reported that the company is in discussion and intends to buy Sensis Holdings Limited. Sensis is a leader in...