(RTTNews) - WEX (WEX), a financial technology service provider, has agreed to acquire eNett and Optal for total consideration of approximately $1.275 billion in cash and approximately 2 million shares of common stock paid to the sellers. The WEX stock issued in connection with the deal is valued at approximately $425 million. eNett is a provider of B2B payments solutions to the travel industry. Optal specializes in optimizing B2B transactions.
Melissa Smith, WEX's CEO, said: "In particular, this transaction strengthens our position outside of the US, adds a unique but complementary product suite, and brings a talented team with expertise in operating in international markets."
WEX expects the acquisition to be accretive in the first twelve months to the company's adjusted net income EPS.
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