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Fleetcor to Acquire UK Cross-Border Payments Business Global Reach Group.

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MANews-(C)2009-2022

US-based business payments company Fleetcor Technologies, Inc. (NYSE: FLT) has signed a definitive agreement to acquire the UK-based cross-border payments provider Global Reach Group, the company said.

With the acquisition, Fleetcor increases its cross-border payments scale and strengthens its position as one of the largest non-bank global cross-border providers in the world.

The transaction is expected to close in 4Q22, subject to regulatory approval and standard closing conditions.

Global Reach Group serves customers of all sizes by facilitating international payments. With thousands of corporate clients primarily in the United Kingdom and Canada, the acquisition provides an overlapping footprint to Fleetcor's current cross-border payments business.

Jones Day provided legal counsel to Fleetcor. Eversheds Sutherland provided legal counsel to Global Reach, and...

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