Under the terms of the proposed transaction, WEX will purchase ExxonMobil’s commercial fleet fuel card program which includes operations, funding, pricing, and sales and marketing in nine countries in Europe.
In anticipation of an expected closing in late Q4 2014 or Q1 2015, WEX will make investments relating to the integration of operations and systems. It is anticipated that these investments will occur over a two year period.
The anticipated transaction is subject to completion of the employee information and consultation processes, and obtaining of competition authority approvals.
In June 2013, WEX has inked a contract with Globalia, a European supplier of air, hotel and travel related services, to offer the WEX Travel solution.
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