Wex confirms US$1.7bn acquisition of eNett and Optal

Wex has entered into an agreement to purchase eNett, a provider of business-to-business payments solutions to the travel industry.

In a separate deal, the financial technology service provider signed to acquire Optal, a company that specialises in optimising business-to-business transactions.

The deal for both companies is valued at approximately $1.7 billion, including $1.275 billion in cash and two million shares of Wex common stock.

Wex is acquiring eNett from Travelport and its owners, affiliates of Siris Capital Group, and Elliot Management Corporation’s private equity affiliate, Evergreen Coast Capital.

Wex is acquiring Optal from private shareh

Source : Breakingtravelnews