Market Overview

WEX to Acquire Electronic Funds Source for ~$1.1B


WEX Inc. (NYSE: WEX) today announced it has entered into a definitive agreement to acquire
Electronic Funds Source LLC ("EFS") for a total consideration of
approximately $1.1 billion in cash and 4.0 million shares of common
stock to be issued to investment funds affiliated with Warburg Pincus,
EFS' current owner. The acquisition is expected to be immediately
accretive to adjusted net income.

"We are very excited about the prospect of combining these two great
companies, which have a strong customer orientation, aligned strategy
and a complementary footprint," said Melissa Smith, WEX's president and
chief executive officer. "We believe this acquisition strengthens our
value proposition to customers with

See full press release

Posted-In: News M&A Press Releases


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