SOUTH PORTLAND, ME – Wright Express, a provider of payment processing and information management services, has entered into a definitive agreement to acquire the assets of Financial Automation Limited (FAL), a New Zealand-based provider of fuel card processing software solutions, for approximately US $9 million. The transaction is expected to close in the third quarter of 2008, according to www.businesswire.com.
"We look forward to leveraging FAL's innovative technology as we work to understand and meet the international fleet card needs of oil companies around the globe," said Michael Dubyak, chairman, chief executive officer and president of Wright Express. "As a pioneer in the North American fleet card industry, Wright Express will continue to focus on doing what it does best: meeting the complex requirements of its customers, wherever they are located. Acquiring FAL will accelerate our time-to-market as a provider of fleet card solutions in new geographic markets worldwide."
Wright Express also appointed Joe Czternastek as general manager of international operations. He has more than 25 years of executive experience in the European corporate card market and specifically in the fuel card markets.