It's an underfollowed company, but this is a strong business with a big opportunity trading at a bargain price.
The acquisition is expected to help FLEETCOR (FLT) expand its corporate-payments business across new international markets.
FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global business payments company, today announced it has signed a definitive agreement to acquire Associated Foreign Exchange (AFEX), a cross-border payment solutions provider. By acquiring AFEX, FLEETCOR will build upon its corporate payments line of business and strengthen its position as one of the largest business payments companies in the world. The transaction is expected to close in the first quarter of 2021, subject to regulatory approval and standard closing conditions.