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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...

WEX Completes Acquisition of eNett and Optal WEX Completes Acquisition of eNett and Optal WEX Inc. (NYSE:WEX), a leading financial technology service provider, today announced the completion of its previously announced agreement to acquire eNett, a leading provider of B2B payments solutions, and Optal, a company that specializes in optimizing B2B transactions. WEX paid total consideration of approximately $577.5 million, funded from cash on hand. Though visibility remains limited due to COVID-19, WEX expects the impact of the acquisition on adjusted net income will be immaterial through calen...

More travel executives get their mission-critical industry news from Skift than any other source on the planet.Tell me more Wex, a business-to-business payments company, said it had bought eNett and Optal from Travelport for $577.5 million in cash — far less than the $1.7 billion price Travelport expected in January. “I can confirm that the sale of eNett and Optal to Wex is now complete,” a Travelport spokesperson said on Wednesday. “ENett, Optal, and Wex agreed to a settlement, which resolved all outstanding litigation, and the transaction is now closed.” The deal lets Wex scale up...

WEX Inc.: WEX Completes Acquisition of eNett and Optal Parties Also Agree to Settle Outstanding Litigation in English Courts WEX Inc. (NYSE:WEX), a leading financial technology service provider, today announced the completion of its previously announced agreement to acquire eNett, a leading provider of B2B payments solutions, and Optal, a company that specializes in optimizing B2B transactions. WEX paid total consideration of approximately $577.5 million, funded from cash on hand. Though visibility remains limited due to COVID-19, WEX expects the impact of the acquisition on adjusted net ...