Skip to content
Home / News |

WEX Stock Rallies 8% After eNett and Optal Acquisitions

NYSE: WEX
Sam Boughedda

Payment systems provider WEX Inc (NYSE: WEX) said on Tuesday that it has completed its previously announced agreements to acquire eNett and Optal. 

WEX paid approximately $577.5 million from cash in hand for eNett, a B2B payment solutions provider and Optal, a company specialising in B2B transactions. 

The Portland-based company said that due to the acquisitions it is expanding its leadership team within its B2B payments-focuses travel and corporate solutions segment with former eNett CEO, Anthony Hynesbecoming president of the travel division. 

X testing X
WELCOME BONUS - Free Share Bundle When You Invest £50! Get up to £500 cashback for investing with IG.
Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.
5.0
Open Account Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

WEX and former shareholders of eNett and Optal have agreed on a final settlement of the litigation that was previously pending in English courts due to the purchase agreement. 

The company’s shares rallied on the news and are currently trading 8.62% higher at $200.88 after Monday’s close at $184.93.

PEOPLE WHO READ THIS ALSO VIEWED:

Sam Boughedda
Sam Boughedda
Team Member

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.