WEX Completes Acquisition of ExxonMobil's European Commercial Fuel Card Program

WEX Inc. WEX, a leading provider of corporate payment solutions, today announced that it has acquired the assets of ExxonMobil's European commercial fuel card (“Esso Card”) program through a majority owned joint venture, WEX Europe Services Limited. As part of this transaction, both parties have agreed to enter into a long term supply agreement to serve the current and future Esso Card customers and to grow the business. “Today's announcement marks the completion of a key strategic milestone for WEX,” said Melissa Smith, WEX president and chief executive officer. “Expanding our presence in the European market through the addition of the Esso Card program enables us to broaden our international footprint, while laying the foundation for further expansion.” Under the terms of the transaction, WEX purchased ExxonMobil's commercial fleet fuel card program which includes operations, funding, pricing, and sales and marketing in nine countries in Europe.