SALT LAKE CITY, June 19, 2024 (GLOBE NEWSWIRE) -- GPS Capital Markets, LLC, a
leading fintech firm offering corporate foreign exchange services, announced
entering into a definitive agreement to be acquired by Corpay, Inc. (NYSE:
CPAY), a leading corporate payments company.
This acquisition will bring tremendous benefits to GPS Capital Markets clients,
including enhanced delivery channels and expanded access to FX services across
global markets.
"At GPS our clients are at the heart of everything we do. With Corpay
(https://www.linkedin.com/company/corpay/)'s resources and our team's expertise,
we are poised to provide even greater value and drive transformative outcomes in
the financial markets. The combined capabilities of our two companies will
significantly benefit our clients and our employees," says Brandon Parke,
President and CEO of GPS Capital Markets.
By combining the strengths of GPS Capital Markets and Corpay, we are uniquely
positioned to deliver unparalleled value in the market.
"GPS is our third largest deal ever. We're quite excited about GPS's assets
including a bluechip roster of clients, a team of terrific FX specialists, and a
market-leading FX netting technology," said Ron Clarke, Chairman and CEO of
Corpay, Inc.
The transaction is expected to close in early 2025 subject to obtaining required
regulatory approvals and other customary closing conditions.
For more details on the GPS Capital Markets acquisition visit:
https://bit.ly/3XtlU32
ABOUT CORPAY:
About Corpay (NYSE: CPAY) is a global S&P 500 corporate payments company that
helps businesses and consumers manage and pay expenses in a simple, controlled
manner. Corpay's suite of modern payment solutions help its customers better
manage vehicle-related expenses (e.g. fueling and parking), travel expenses
(e.g. hotel bookings) and accounts payable (e.g. paying vendors). This results
in customers saving time and ultimately spending less. To learn more visit
www.corpay.com (http://www.corpay.com/).
ABOUT GPS CAPITAL MARKETS, LLC:
Headquartered in Salt Lake City, Utah, GPS Capital Markets, LLC provides
corporate foreign exchange services that help companies manage their foreign
currency risk and execute foreign currency transactions. Founded in 2002, GPS
brings together a senior management team rich in international banking
experience from the world's leading financial institutions. GPS has several
offices throughout the United States, as well as in Australia, Canada, the
European Union and the United Kingdom. It combines competitive exchange rates
with a host of tailored international financial solutions for its clients. For
more information, visit www.gpsfx.com
(https://www.globenewswire.com/Tracker?data=2eI3PvXW2wCRBNy8G0gvoFoychAAZETNM0Zn
UK_91ag43_yGFv_U0qWuqbizcX11E5Z21uEh6aHeqcSMfpkdAQ==).
Press contact:
GPS Capital Markets
Lindsey Wing
801-979-6114
lwing@gpsfx.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4ca9bb9a-52c4-4cc3-9630-
a62ba49a2cac
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