Lightyear Capital to acquire PayByPhone from Corpay.

Lightyear Capital, a private equity firm, agreed to acquire PayByPhone, a technology company specializing in digital parking solutions, from Corpay, a global business payments and spend management company. Financial terms were not disclosed. “We’ve agreed to terms to divest our PayByPhone business, and hope that PBP will prosper under Lightyear’s ownership. The transaction is another step to simplify our portfolio, and speed our rotation to more corporate payments,” Ron Clarke, Corpay Chairman and CEO.