ATLANTA--(BUSINESS WIRE)--Jul. 11, 2012--
FleetCor Technologies, Inc. (NYSE: FLT), a leading independent global
provider of fuel cards and workforce payment products to businesses,
today announced that it has acquired a leading Russian fuel card
company. Terms of the transaction were not disclosed.
The acquired company is the Russian leader in fuel card systems, and
serves major oil clients, and hundreds of independent fuel card issuers.
Its technology is “the standard” in Russia, and this compatibility
allows issuers to share their retail network, thereby, expanding the
reach of their networks. FleetCor estimates that over 30% of all
commercial fuel purchased in Russia is processed using this acquired
“We are delighted to announce this Russian acquisition. The Russia
market has great potential, with two-thirds of all commercial fuel still
purchased with cash and vouchers. This asset strengthens our already
attractive existing position and further signals our commitment to
developing markets,” said Ron Clarke, chairman and chief executive
officer, FleetCor Technologies, Inc.
“We expect this transaction will be slightly accretive to our 2012
earnings,” said Eric Dey, chief financial officer, FleetCor
Ron Clarke, FleetCor’s chairman and chief executive officer and Eric
Dey, FleetCor’s chief financial officer, will host a conference call
July 11, 2012 at 4:30 ET to discuss FleetCor’s acquisition. A live
webcast of this conference call will be available at the Investor
Relations section of FleetCor’s website (www.fleetcor.com).
The live conference call also can be accessed by dialing (877) 941-1427
or for international callers (480) 629-9664. A replay of the webcast
will be available on FleetCor’s website for approximately one year.
For your convenience, the conference call can be replayed in its
entirety beginning from two hours after the end of the call through July
18, 2012. If you wish to listen to the replay of this conference call,
please dial (877) 870-5176, or for international callers (858) 384-5517
and enter passcode 4548833.
FleetCor is a leading global provider of fuel cards and workforce
payment programs 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 serves commercial
accounts in North America, Latin America, and Europe. For more
information, please visit www.fleetcor.com.
This press release contains forward-looking statements within the
meaning of the federal securities laws. Some of these statements include
those regarding the acquisition, FleetCor’s future financial and
operating results, benefits of the transaction, future opportunities for
the combined company, and any other statements about management’s future
expectations, beliefs, goals, plans or prospects. 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. There are a number of
important factors that could cause actual results or events to differ
materially from those indicated by such forward-looking statements,
including difficulties integrating the acquisition or a failure to
attain anticipated operating results, which could affect the
accretiveness of the acquisition, and the other factors described in
FleetCor’s periodic reports filed with the Securities and Exchange
Commission. FleetCor undertakes no obligation to update forward looking
statements to reflect changed assumptions, the occurrence of
unanticipated events, or changes in future operating results, financial
condition or business over time. Readers are further advised to review
the “Risk Factors” set forth in FleetCor’s Annual Report on Form 10-K,
which further details and supplements the factors described in this
Source: FleetCor Technologies, Inc.
FleetCor Technologies, Inc.
Investor Relations, 770-729-2017