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SALT LAKE CITY, June 19, 2024 (GLOBE NEWSWIRE) — GPS Capital Markets, LLC, a leading financial technology company providing foreign exchange services to businesses, announces that it has entered into a definitive agreement to be acquired by Corpay, Inc. (NYSE: CPAY), a leading enterprise 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.
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“At GPS, our customers are at the heart of everything we do. With CorpayWith our resources and the expertise of our team, we are poised to deliver greater value and achieve transformational results in the financial markets. “The combined capabilities of our two companies will greatly benefit our clients and employees,” says Brandon Park, 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 transaction ever,” said Ron Clark, Chairman and CEO of Corpay, Inc. “We are extremely excited about our GPS assets including an excellent client roster, and a team of great professionals in Foreign exchange, and the market-leading foreign exchange netting technology.
The transaction is expected to close in early 2025, subject to obtaining the required regulatory approvals and other customary closing conditions.
For more details about the GPS Capital Markets acquisition, visit: https://bit.ly/3XtlU32
About Corby:
About Corpay 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 way. Corpay's suite of modern payment solutions helps its customers better manage vehicle-related expenses (such as fueling and parking), travel expenses (such as hotel reservations) and accounts payable (such as paying vendors). This saves customers time and ultimately spends less. To learn more visit www.corpay.com.
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About GPS Capital Markets, LLC:
Headquartered in Salt Lake City, Utah, GPS Capital Markets, LLC provides corporate foreign exchange services that help companies manage foreign currency risks 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 offices across the United States, as well as in Australia, Canada, the European Union, and the United Kingdom. It combines competitive exchange rates with a range of international financial solutions tailored to its clients. For more information visit www.gpsfx.com.
Media contact:
Capital Markets GPS
Lindsey Wing
801-979-6114
lwing@gpsfx.com
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