$WEX (WEX Inc.)

$WEX {{ '2016-06-17T11:36:56+0000' | timeago}} • Announcement

Corporate payment solutions provider $WEX said its previously announced acquisition of Electronic Funds Source (EFS) has been cleared by the US Federal Trade Commission. Company intends to finance the $1.1Bil cash part of the deal through a combination of a new revolving credit facility, Term Loan A and Term Loan B facility.

$WEX {{ '2017-06-12T12:05:02+0000' | timeago}} • Announcement

Corporate payment solutions provider $WEX said it has invited certain prospective lenders to a meeting to be held on June 12, 2017, for considering a potential repricing of the company's existing $438MM term loan A and $1,191MM term loan B.

$WEX {{ '2017-06-06T11:47:19+0000' | timeago}} • Announcement

EFS, a subsidiary of $WEX, has launched EFS CardControl, its latest mobile application for drivers and cardholders. The application brings enhanced functionality and usability to users by putting the power of the EFS platform into the convenience of a mobile app. It also gives drivers real-time access to find the nearest fuel locations.

$WEX {{ '2017-04-28T16:53:21+0000' | timeago}} • Announcement

EFS, a $WEX company, entered into a multi-year private label processing agreement with Pilot Flying J, the largest operator of travel centers in North America.

$WEX {{ '2017-04-04T16:43:43+0000' | timeago}} • Announcement

EFS, a $WEX company, said one of its leading national carriers Knight Transportation has renewed its relationship with EFS. Under their new contract, EFS will continue to provide payment processing solutions for Knight's drivers and brokerage customers.

$WEX {{ '2017-03-23T20:46:47+0000' | timeago}} • Announcement

$WEX said WEX Health Cloud facilitated billions of dollars in reimbursements and processed more than 250MM transactions, all with an uptime of 99.99% over the past 4 years. Product releases delivered more than 200 key enhancements in 2016. The number of consumers on the WEX Health platform grew to more than 24MM in 2016.

$WEX {{ '2017-02-13T18:34:56+0000' | timeago}} • Webcast

$WEX ended 4Q16 with $191MM of cash, down from $280MM at the end of 4Q15. The cash reduction was mainly as a result of the termination of the Higher One deposit program at the company's bank.

$WEX {{ '2017-02-13T18:25:02+0000' | timeago}} • Webcast

In the Brazilian Benefits business, $WEX saw strong organic growth in 4Q16, with more than 100% revenue growth YonY. For Health and Employee Benefit solution, total revenue rose 55% to $45.1MM in the quarter.

$WEX {{ '2017-02-13T18:02:42+0000' | timeago}} • Webcast

$WEX signed long term contract renewal with $XOM in the US and Imperial Oil in Canada in 2016. Consequently, the company said there will be increased expense in 2017 for conversion activities, sales force deployments and increased marketing activities.

$WEX {{ '2017-02-13T12:02:18+0000' | timeago}} • Announcement

For 1Q17, $WEX expects revenue to be in the range of $275-285MM and expects its adjusted net income to be in the range of $50-53MM, or $1.16-1.24 per diluted share. For FY17, $WEX expects revenue to be about $1.15-1.19Bil, and adjusted net income to be in the range of $220-237MM, or $5.10-5.50 per diluted share.

$WEX {{ '2017-02-13T11:59:19+0000' | timeago}} • Announcement

During 4Q16, $WEX reported 10% rise in its average number of vehicles services to approx. 10.5MM from 4Q15. The total fuel transactions processed rose 24% from 4Q15 to 123.1MM.

$WEX {{ '2017-02-13T11:56:51+0000' | timeago}} • Announcement

Corporate payment solutions provider $WEX reported 75% drop in its 4Q16 earnings. The company's net income decreased to $5.3MM, or $0.12 per share, compared to $20.9MM, or $0.54 per share during 4Q15. Revenue during the quarter rose 37% YoY to $290.8MM compared to $212.6MM during 4Q15. Excluding items, $WEX earned $1.28 per share.

$WEX {{ '2017-01-11T13:00:25+0000' | timeago}} • Announcement

$WEX signed a new agreement with Enterprise Fleet Management in Canada. The partnership supports Enterprise's growth in the Canadian market through $WEX's Canadian fleet capabilities. The expanded partnership will deliver $WEX products to Enterprise Fleet Management customers throughout Canada as well.

$WEX {{ '2016-12-19T13:14:18+0000' | timeago}} • Announcement

$WEX said its subsidiary WEX Bank agreed with Chevron Products Company, a division of Chevron U.S.A. Inc., to issue and operate Chevron- and Texaco-branded commercial fleet cards commencing in Jan. 2018. Through this agreement, $WEX will manage fleet card distribution and provide related payment services to Chevron and Texaco customers.

$WEX {{ '2016-09-26T22:28:22+0000' | timeago}} • Announcement

Corporate payment solutions provider $WEX launched its customized virtual payment solution, WEX VCN, in partnership with corporate travel and expense management provider Argo in Latin America. The solution simplifies booking, travel management and expense reporting.

$WEX {{ '2016-09-26T12:25:19+0000' | timeago}} • Announcement

Corporate payment solutions company $WEX said John Bachman has been elected to the company's BoD. John is also one of the directors in $PLCE's Board.

$WEX {{ '2016-09-07T11:35:33+0000' | timeago}} • Announcement

$WEX said the agreement gives Ypsilon.Net's clients easy access to $WEX's exceptional and leading portfolio of credit, debit and prepaid virtual Card number (VCN) technology through a single API for the first time. Also, it gives Ypsilon.Net's global clients access to 24 billing currencies.

$WEX {{ '2016-09-07T11:34:32+0000' | timeago}} • Announcement

$WEX said it entered into an international agreement with Ypsilon.Net AG, a provider of internet travel technology and payment solutions for airlines, consolidators, travel portals and travel agencies. With the agreement in place, $WEX is expanding its presence within the travel payment space in Germany.

$WEX {{ '2016-07-21T09:18:32+0000' | timeago}} • Announcement

Corporate payment solutions provider $WEX said it has signed a virtual payments agreement with insurance technology provider Aquarium Software. The agreement enables $WEX to increase its presence in the insurance payment space in both Europe and the US.

$WEX {{ '2016-07-01T18:06:28+0000' | timeago}} • Announcement

$WEX said it expects the EFS transaction to be accretive to adjusted net income over the next 12 months. Given the timing of the close, the company does not expect the transaction to have a material impact on previously issued guidance for the remainder of 2016. $WEX also expects to realize about $275MM in present value of tax benefits.

$WEX {{ '2016-07-01T18:06:11+0000' | timeago}} • Announcement

Corporate payment solutions company $WEX said it has completed the acquisition of Electronic Funds Source LLC (EFS). $WEX paid approx. $1.1Bil in cash and issued approx. 4MM shares of its common stock to investment funds affiliated with Warburg Pincus, EFS' former owner, as consideration for the acquisition.

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