ATLANTA--(BUSINESS WIRE)--Mar. 12, 2012--
FleetCor Technologies, Inc. (NYSE: FLT), a global provider of fuel cards
and specialized payment services to businesses, today announced that it
has signed definitive agreements to acquire the Mexican assets of
NovoPayment’s subsidiaries Tebca and Servitebca. With this acquisition,
FleetCor will increase the size of its fuel and food card client
portfolios in Mexico.
Headquartered in Miami, Florida, NovoPayment is a leading provider of
prepaid card programs in Latin America, with operations in Venezuela,
Peru, Colombia, and Mexico. Operating locally as Tebca and Servitebca,
the company has been serving clients in Mexico since 2009.
Anabel Perez, NovoPayment’s president and chief executive officer
remarked, “While we believe the Mexican prepaid card market has
tremendous potential, we have made the strategic decision to focus
NovoPayment’s efforts on our service provider business. We are very
pleased to be working with FleetCor on this transaction, and believe
that Tebca and Servitebca’s Mexican clients and employees will find a
great organization with FleetCor.”
Ron Clarke, FleetCor’s chairman and chief executive officer commented,
“We are delighted to announce this deal with NovoPayment, as we continue
to execute on our strategy to expand our position in ’emerging’ payment
markets.”
Terms of the transaction were not disclosed, and the strategic
acquisition will not have a material impact on FleetCor’s financial
results.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the federal securities laws. Statements that are not
historical facts, including statements about FleetCor's beliefs,
expectations and future performance, are forward-looking statements.
Forward-looking statements can be identified by the use of words such as
"anticipate," "intend," "believe," "estimate," "plan," "seek," "project"
or "expect," "may," "will," "would," "could" or "should," the negative
of these terms or other comparable terminology. Examples of
forward-looking statements in this press release include statements
relating to management's plans for expansion. These forward-looking
statements are subject to a number of risks and uncertainties that could
cause actual results to differ materially from those contained in any
forward-looking statement, such as delays or failures associated with
acquisitions and the failure to successfully integrate or otherwise
achieve anticipated benefits from such acquired businesses; failure to
successfully expand business internationally; the impact of foreign
exchange rates on operations, revenue and income; the effects of general
economic conditions on commercial activity, as well as the other risks
and uncertainties identified under the caption "Risk Factors" in
FleetCor's Annual Report on Form 10-K for the year ended December 31,
2010, filed with the Securities and Exchange Commission on March 25,
2011. FleetCor believes these forward-looking statements are reasonable;
however, forward-looking statements are not a guarantee of performance,
and undue reliance should not be placed on such statements. The
forward-looking statements included in this press release are made only
as of the date hereof, and FleetCor does not undertake, and specifically
disclaims, any obligation to update any such statements or to publicly
announce the results of any revisions to any of such statements to
reflect future events or developments.
About FleetCor
FleetCor, The Global Fleet Card Company, is a global provider of fuel
cards and specialized payment services to businesses. FleetCor's payment
programs enable businesses to better control employee spending and
provide card-accepting merchants with a high volume customer base that
can increase their sales and customer loyalty. FleetCor, with operations
in North America, Latin America and Europe, serves commercial accounts
across the globe. For more information, please visit www.fleetcor.com.
About NovoPayment
NovoPayment is a leading prepaid card service provider and program
manager in Latin America. Founded in 2004 and headquartered in Miami,
Florida, the company develops and operates comprehensive turnkey
programs through its local, in-region subsidiaries, partnering with
banks, mobile phone operators, utilities, government agencies and
entities, retail chains, micro-financing institutions, and consumer
goods and services companies. All programs are backed by widely accepted
brands like MasterCard®, Maestro®, Visa® and Visa Electron®. For more
information, please visit www.novopayment.com.
Source: FleetCor Technologies, Inc.
FleetCor
Investor Relations
investor@fleetcor.com
770-729-2017