FleetCor Technologies, a provider of fuel cards and workforce payment services, has signed an agreement to purchase electronic payment services provider Comdata for $3.45 billion.
FleetCor Purchasing Comdata for Nearly $3.5 Billion
FleetCor Technologies, a provider of fuel cards and workforce payment services, has signed an agreement to purchase electronic payment services provider Comdata for $3.45 billion.
by Staff
August 13, 2014
1 min to read
According to FleetCor, the acquisition of the Tennessee-based Comdata is expected to provide a number of benefits such as expanding FleetCor’s North American fuel card business into new, unserved markets; enabling entry into the virtual payments business; and dramatically increasing FleetCor’s overall scale and earnings base.
“We have followed Comdata’s growth and development for many years, and are excited today to be bringing the companies together” said Ron Clarke, chairman and chief executive officer of the Georgia –based FleetCor Technologies. “Comdata’s virtual payments business will add a completely new growth leg to FleetCor. We believe that the combination will result in significant synergies as we implement our operating disciplines to their portfolio of businesses.”
The deal is expected to close by the end of the year.
More Fleet Management
ACT: Trucking Volumes Rise, Capacity Tightens as Fuel Prices Cloud Outlook
ACT Research data shows volumes hitting a four-year high and supply-demand balance strengthening, but higher oil prices are undercutting tariff relief and tempering optimism.
Read More →
Wabash Teams Physical Security With Digital Tech For Better Cargo Visibility
The patent-pending cargo solution integrates a digitally connected cargo door and an intelligent locking system with the TrailerHawk.AI technology platform.
Read More →
From Diesel Prices to Cyberattacks: How the Iran War Is Affecting Trucking
The impact of the Iran conflict extends beyond fuel costs, bringing more fraud and cybersecurity risks to the trucking industry.
Read More →
ATA’s Spear Warns Fuel Prices, Trade Policy, and Global Conflict Could Stall Trucking Recovery
Speaking at the TMC Annual Meeting in Nashville, ATA President Chris Spear said trucking faces mounting pressure from rising fuel prices, geopolitical instability, and uncertainty around trade policy.
Read More →
New Entrants, Chameleon Carriers, and Safety: Is It Too Easy to Start a Trucking Company?
More than 100,000 new trucking companies enter the industry each year, but regulators manage to audit only a fraction of them. That churn creates opportunities for inexperienced startups — and for “chameleon carriers” that shut down after safety violations and reappear under new identities. Read more from Deborah Lockridge in this commentary.
Read More →
Fleet Managers Invited to Apply for Exclusive HDT Exchange Event
HDTX is an intimate event that connects heavy-duty trucking fleet managers with industry suppliers through small-group discussions, educational sessions, and structured one-on-one meetings.
Read More →
DAT Launches iPhone Widget to Help Owner-Operators Find Loads Faster
New DAT One feature shows top-paying loads directly on an iPhone’s home screen, helping carriers react faster to spot-market opportunities.
Read More →
Optimal Dynamics Launches AI System to Help Carriers Choose Better Freight
Optimal Dynamics says its new Scale platform uses AI agents and optimization to help carriers find and secure freight that improves network balance and profitability.
Read More →
DAT: Flatbed Demand Climbs as Van and Reefer Rates Soften
DAT Freight & Analytics data shows tightening flatbed capacity, easing produce markets, and softening van and reefer rates.
Read More →
Run on Less “Messy Middle” Data Shows Multiple Paths Forward for Truck Powertrains [Watch]
NACFE's Run on Less - Messy Middle project demonstrates the power of data in helping to guide the future of alternative fuels and powertrains for heavy-duty trucks.
Read More →