Fintech Firm Wex Agrees to Acquire Payzer in $250 Million Deal
Wex Inc. heaadquarters in Portland, Maine.
Photographer: Gregory Rec/Portland Portland Press Herald/Getty Images
This article is for subscribers only.
Financial services technology firm Wex Inc. has agreed to acquire contractor software company Payzer LLC.
Wex is buying Payzer for about $250 million, with additional consideration of as much as $11 million based on performance metrics, according to a statement on Thursday that confirmed an earlier Bloomberg News report. It plans to finance the acquisition through its revolving credit facility and cash on hand.