Corpay (CPAY) said late Monday it completed the acquisition of GPS Capital Markets, a business-to-business cross-board services provider, as it seeks to expand its corporate payments business.
"With the addition of Paymerang and now GPS, we expect our Corporate Payments business to exceed $1.5 billion in revenue in 2025," Corpay Chief Executive Ron Clarke said.
The two acquisitions will contribute more than $200 million in revenue and about $0.50 in cash EPS accretion in 2025.
Meanwhile, Corpay finalized the Comdata Merchant POS Solutions sale to PDI Technologies, as part of its strategic effort to focus on core operations.
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