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Corpay to acquire GPS Capital Markets

Thursday 20 June 2024 15:11 CET | News

US-based business payments provider Corpay has entered into a definitive agreement to acquire fintech company GPS Capital Markets.

 

Corpay has entered into a definitive agreement to acquire GPS Capital Markets.

This acquisition will bring tremendous benefits to GPS Capital Markets clients, including enhanced delivery channels and expanded access to FX services across global markets. The transaction is expected to close in early 2025 subject to obtaining required regulatory approvals and other customary closing conditions.

Executives from GPS Capital Markets emphasized that their clients are central to their operations. With Corpay's resources and their team's expertise, they aim to deliver increased value and transformative results in the financial markets. The merged capabilities of both companies will benefit clients and employees. By combining GPS Capital Markets' and Corpay's strengths, they are well-positioned to offer unmatched market value.

Officials from Corpay stated that GPS is their third largest deal ever. They're quite happy about GPS's assets including a bluechip roster of clients, a team of great FX specialists, and a prominent FX netting technology.

What does Corpay do?

Corpay is a global S&P 500 corporate payments company that helps businesses and consumers manage and pay expenses in a simple, controlled manner. Corpay’s suite of modern payment solutions help its customers better manage vehicle-related expenses (e.g. fuelling and parking), travel expenses (e.g. hotel bookings) and accounts payable (e.g. paying vendors). This results in customers saving time and ultimately spending less.

More information about GPS Capital Markets

Headquartered in the US, GPS Capital Markets provides corporate foreign exchange services that help companies manage their foreign currency risk and execute foreign currency transactions.

Founded in 2002, GPS brings together a senior management team rich in international banking experience. GPS has several offices throughout the US, as well as in Australia, Canada, the European Union, and the United Kingdom. It combines competitive exchange rates with a host of tailored international financial solutions for its clients.


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Keywords: acquisition, fintech, FX , travel payments
Categories: Payments & Commerce
Companies: Corpay, GPS Capital Markets
Countries: World
This article is part of category

Payments & Commerce

Corpay

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GPS Capital Markets

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