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FleetCor Buys TravelCard to Solidify Base in the Netherlands
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FleetCor Technologies, Inc. recently acquired Travelcard Nederland B.V. from LeasePlan Corporation N.V. for an undisclosed amount. The buyout is expected to support the acquirer in its commitment to build meaningful positions in the largest continental European countries. Shares of this financial transaction service provider gained 5.6% over the last two trading sessions. This reflects investor optimism over its initiatives to fortify international footprint.
Travelcard was established in 1986 by LeasePlan – one of the most important partners of the acquirer. Travelcard provides fuel cards and workforce payment products to businesses worldwide. Alongside, the company offers complementary services to its customers and enables them to pay for other mobility-related services. The industry-leading products help in meeting the needs of fleet operators as well as different types of businesses in the Netherlands, including some of the largest leasing companies. Travelcard owns approximately 0.3 million active fuel cards in the market.
LeasePlan has successfully developed an outstanding business in Travelcard and the acquirer plans to cash in on the success of this business. Moreover, the acquirer intends to broadly market Travelcard’s success to a wider c. Thus, the latest transaction will be a perfect fit for the acquirer.
Acquisitions are a well-accepted strategy for growth among insurers. To that end, on Mar 15, 2016, FleetCor signed a definitive agreement to takeover Serviços e Tecnologia de Pagamentos S.A. from a shareholder group including concessionaires CCR S.A. and Arteris S.A., Raizen Combustiveis S.A., and others. The deal was made for approximately $1.05 billion. The buyout is likely to bring in substantial synergies, while the acquirer implements its operating disciplines and strengthens its other business lines in Brazil.
Currently, FleetCor holds a Zacks Rank #2 (Buy). Investors interested in other stocks from the finance sector can consider WEX Inc. (WEX - Free Report) , Allied World Assurance Company Holdings, AG (AWH - Free Report) and Argo Group International Holdings, Ltd. . Each of these stocks sports a Zacks Rank #1 (Strong Buy).
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FleetCor Buys TravelCard to Solidify Base in the Netherlands
FleetCor Technologies, Inc. recently acquired Travelcard Nederland B.V. from LeasePlan Corporation N.V. for an undisclosed amount. The buyout is expected to support the acquirer in its commitment to build meaningful positions in the largest continental European countries. Shares of this financial transaction service provider gained 5.6% over the last two trading sessions. This reflects investor optimism over its initiatives to fortify international footprint.
Travelcard was established in 1986 by LeasePlan – one of the most important partners of the acquirer. Travelcard provides fuel cards and workforce payment products to businesses worldwide. Alongside, the company offers complementary services to its customers and enables them to pay for other mobility-related services. The industry-leading products help in meeting the needs of fleet operators as well as different types of businesses in the Netherlands, including some of the largest leasing companies. Travelcard owns approximately 0.3 million active fuel cards in the market.
LeasePlan has successfully developed an outstanding business in Travelcard and the acquirer plans to cash in on the success of this business. Moreover, the acquirer intends to broadly market Travelcard’s success to a wider c. Thus, the latest transaction will be a perfect fit for the acquirer.
Acquisitions are a well-accepted strategy for growth among insurers. To that end, on Mar 15, 2016, FleetCor signed a definitive agreement to takeover Serviços e Tecnologia de Pagamentos S.A. from a shareholder group including concessionaires CCR S.A. and Arteris S.A., Raizen Combustiveis S.A., and others. The deal was made for approximately $1.05 billion. The buyout is likely to bring in substantial synergies, while the acquirer implements its operating disciplines and strengthens its other business lines in Brazil.
FLEETCOR TECH Price
FLEETCOR TECH Price | FLEETCOR TECH Quote
Zacks Rank and Stocks to Consider
Currently, FleetCor holds a Zacks Rank #2 (Buy). Investors interested in other stocks from the finance sector can consider WEX Inc. (WEX - Free Report) , Allied World Assurance Company Holdings, AG (AWH - Free Report) and Argo Group International Holdings, Ltd. . Each of these stocks sports a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>