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Announced

Completed

WEX completed the acquisition of eNett and Optal from Siris Capital and Elliot Management for $578m.

Financials

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Transaction Value£433m
Consideration TypeCash, Ordinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Payments / Commerce

Singapore

Single Bidder

financial services provider

digital payment

Majority

United Kingdom

ecommerce

credit card services

Friendly

Private Equity

Acquisition

Private

Cross Border

Completed

Synopsis

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WEX, a financial technology service provider, completed the acquisition of eNett International, a provider of B2B payments solutions to the travel industry and Optal, a company that specializes in optimizing B2B transactions, from private equity firms Siris Capital Group and Elliot Management for $578m. “We are pleased to be joining forces with WEX to offer leading travel companies globally an enhanced and unrivaled suite of innovative payment solutions. We look forward to working with the WEX team to successfully integrate our complementary assets, including our technology, products, and most importantly, our people,” Anthony Hynes, eNett Managing Director and CEO.

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