Fleetcor completes Cambridge acquisition
Fleetcor Technologies, a global provider of commercial payment solutions, has closed its acquisition of Cambridge Global Payments,a B2B international payments provider, for approximately $690 million. The purchase agreement was previously announced on May 1, 2017.
Cambridge, founded in 1992, processed $25 billion in B2B cross-border payments in 2016, helping more than 13,000 business clients make international payments to suppliers and employees. Cambridge's proprietary technology serves the needs of SMB and mid-cap businesses, enabling its clients the flexibility of making wire, EFT, draft and check payments in over 140 currencies. Cambridge's headquarters will remain in Toronto, Canada.
(Image: mergr) | 10/08/2017 | Tim Harrup