SOUTH PORTLAND, Maine--(BUSINESS WIRE)--Oct. 4, 2012--
Wright Express Corporation (NYSE: WXS), a leading provider of
value-based, business payment processing and information management
solutions, announced today the completion of its acquisition of Fleet
One after receiving the required regulatory approval from all government
authorities. Fleet One is now a wholly-owned subsidiary of Wright
Express.
“Today marks day one for our combined company,” said Michael Dubyak,
Wright Express’ chairman, president and chief executive officer. “Fleet
One’s strong over-the-road business rounds out our product capabilities
to better serve our mixed fleet and co-branded customers, and also
accelerates acceptance in Canada. Their local fleet and private label
business complements our core fleet business and further builds upon
Wright Express’ Americas fleet business, a core tenet of our
multi-pronged growth strategy. Fleet One is a great addition to Wright
Express, and I’m excited by the new opportunities this acquisition
affords our combined entities.”
Wright Express announced on September 5, 2012, that it is acquiring
Fleet One in an all cash transaction.
About Wright Express
Wright Express is a leading provider of value-based, business payment
processing and information management solutions. The Company's fleet,
corporate and prepaid payment solutions provide its more than 350,000
customers with unparalleled security and control across a wide spectrum
of business sectors. The Company's operations include Wright Express
Financial Services, Pacific Pride, rapid! PayCard, Wright Express
Prepaid Cards Australia, Wright Express Fuel Cards Australia and
CorporatePay Limited, England, as well as a majority equity position in
UNIK S.A, a Brazilian company. Wright Express and its subsidiaries
employ more than 900 associates in six countries. For more information
about Wright Express, please visit wrightexpress.com.
Safe Harbor Statement/Forward Looking Statements
This press release contains forward-looking statements, including
statements regarding: the impact of the Fleet One acquisition on the
Company’s product capabilities and resulting impact on customers and
growth strategy. Any statements that are not statements of historical
facts may be deemed to be forward-looking statements. When used in this
news release, the words "may," "could," "anticipate," "plan,"
"continue," "project," "intend," "estimate," "believe," "expect," “see”
and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain such
words. These forward-looking statements are subject to a number of risks
and uncertainties that could cause actual results to differ materially,
including: the effects of general economic conditions on fueling
patterns and the commercial activity of fleets; the effects of the
Company’s international business expansion and integration efforts and
any failure of those efforts; the impact and range of credit losses;
breaches of the Company’s technology systems and any resulting negative
impact on our reputation, liability, or loss of relationships with
customers or merchants; the Company’s failure to successfully integrate
the businesses it has acquired; fuel price volatility; the Company’s
failure to maintain or renew key agreements; failure to expand the
Company’s technological capabilities and service offerings as rapidly as
the Company’s competitors; the actions of regulatory bodies, including
banking and securities regulators, or possible changes in banking
regulations impacting the Company’s industrial bank and the Company as
the corporate parent; the impact of foreign currency exchange rates on
the Company’s operations, revenue and income; changes in interest rates;
financial loss if the Company determines it necessary to unwind its
derivative instrument position prior to the expiration of a contract;
the incurrence of impairment charges if our assessment of the fair value
of certain of our reporting units changes; the uncertainties of
litigation; as well as other risks and uncertainties identified in Item
1A of the Company's Annual Report for the year ended December 31, 2011,
filed on Form 10-K with the Securities and Exchange Commission on
February 28, 2012 and the Company's subsequent periodic and current
reports. The Company's forward-looking statements and these factors do
not reflect the potential future impact of any alliance, merger,
acquisition, disposition or stock repurchases. The forward-looking
statements speak only as of the date of this news release and undue
reliance should not be placed on these statements. The Company disclaims
any obligation to update any forward-looking statements as a result of
new information, future events or otherwise.
Source: Wright Express Corporation
News media contact:
Wright Express
Jessica Roy,
207-523-6763
Jessica_Roy@wrightexpress.com
or
Investor
contact:
Wright Express
Michael E. Thomas, 207-523-6743
Michael_Thomas@wrightexpress.com