World Fuel Services Corporation INT announced today that it has
completed the previously announced acquisition of select assets of Multi
Service Corporation (“Multi Service”), a global transaction management company
specializing in fleet, government, and commercial payment programs.
Multi Service is headquartered in Overland Park, Kansas and has 360 employees.
Multi Service, which processes more than eight million transactions annually,
also maintains offices in the Netherlands and Australia. The Multi Service
product offering includes the Multi Service Fuel Card, accepted at more than
3,500 truck stops in the United States and Canada, Multi Service Tolls,
payment solutions for tolls, bridges and tunnels across Europe, government
payment systems for global fuel procurement, and commercial payment programs
in the transportation and retail industries.
The transaction is expected to be $0.12 to $0.16 accretive to earnings on a
GAAP basis in the first twelve months. Non-GAAP accretion, which excludes
amortization of acquired intangible assets of approximately $0.04 per share,
is expected to be $0.16 to $0.20 in the first twelve months. In conjunction
with this acquisition, the company will record one-time transaction-related
expenses of approximately $2.8 million in the fourth quarter of 2012.
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