/PRNewswire/ Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS.
Seven months after Portland-based payments provider WEX Inc. (NYSE: WEX) said it was not required to complete two acquisitions citing the pandemic s effect on those businesses, the company has completed the deals at a fraction of the original price tag and settled a lawsuit brought by the sellers.
The company, led by Chair and CEO Melissa Smith, said Tuesday that it has completed the purchase of eNett, a provider of business-to-business payments solutions for the travel industry, and B2B payments company Optal, for around $577.5 million.
It does not expect the deals to affect results, saying, Though visibility remains limited due to COVID-19, WEX expects the impact on adjusted net income will be immaterial through calendar year 2021.