“We’re very excited to welcome Global Reach and its talented team to the FLEETCOR cross-border family under our Corpay brand. With the acquisition, we can better serve our customers while continuing to expand our presence in a number of core geographic markets.”
Fleetcor Technologies, Inc., the payments firm that operates under the Corpay brand, has completed the acquisition of Global Reach Group, a UK-based cross-border payments provider, in order to increase its cross-border payments scale and strengthen its position as a leading non-bank B2B global cross-border payments provider.
Global Reach Group facilitates international payments for customers of all sizes across a variety of industries. FLEETCOR will leverage Global Reach Group to bolster its cross-border payments footprint in the UK, EU, and Canada.
FLEETCOR expands cross-border payments operations
FLEETCOR currently processes cross-border payments in more than 145 currencies for approximately 27,000 customers worldwide.
Ron Clarke, chairman and CEO of FLEETCOR Technologies, Inc., said: “Since entering the cross-border payments space five years ago, we’ve built a market-leading cross-border payments business that will play an important role in our growth moving forward. The acquisition is expected to be immediately accretive in 2023.”
Mark Frey, Group President of Cross-Border Solutions at FLEETCOR, added: “We’re very excited to welcome Global Reach and its talented team to the FLEETCOR cross-border family under our Corpay brand. With the acquisition, we can better serve our customers while continuing to expand our presence in a number of core geographic markets.”
