Corpay to acquire GPS Capital Markets.

Corpay, a global corporate payments company, agreed to acquire GPS Capital Markets, a provider of business-to-business cross-border and treasury management solutions to upper middle market companies. Financial terms were not disclosed. “GPS is our third largest deal ever. We’re quite excited about GPS’ assets including a blue-chip roster of clients, a team of terrific FX specialists, and a market leading FX netting technology. GPS presents significant revenue and expense synergies and will be accretive to our 2025 cash EPS. This acquisition puts us well on our way to scaling our Corporate Payments business to nearly $2bn by 2026,” Ron Clarke, Corpay Chairman and CEO.