FLEETCOR Technologies to acquire PayByPhone.

FLEETCOR Technologies, a global business payments company, agreed to acquire PayByPhone, a digital parking payment solutions provider. Financial terms were not disclosed. “We are delighted to announce the PayByPhone acquisition. Our acquisition was driven by two key strategic objectives. First, by providing our customers access to one of the world’s leading parking apps, it helps expand the vehicle payment solutions we provide our B2B fleet customers in North America and Europe. Second, it will serve as an anchor app for the consumer vehicle payments business we are launching in the UK, where PayByPhone has over 2m active monthly consumers,” Ron Clarke, FLEETCOR Technologies Chairman and CEO.