M&A Deal Summary

WEX Acquires Discovery Benefits

On January 17, 2019, WEX acquired business services company Discovery Benefits for 425M USD

Acquisition Highlights
  • This is WEX’s 6th transaction in the Business Services sector.
  • This is WEX’s 3rd largest (disclosed) transaction.
  • This is WEX’s 9th transaction in the United States.
  • This is WEX’s 1st transaction in North Dakota.

M&A Deal Summary
Date 2019-01-17
Target Discovery Benefits
Sector Business Services
Buyer(s) WEX
Deal Type Add-on Acquisition
Deal Value 425M USD

Target

Discovery Benefits

Fargo, North Dakota, United States
Discovery Benefits, Inc. is an employee benefits administrator. Discovery Benefits was founded in 1987 and is based in Fargo, North Dakota.

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Buyer(S) 1

Buyer

WEX

Portland, Maine, United States
Category Company
Founded 1983
Sector Information Technology
Employees5,300
Revenue 2.5B USD (2023)
DESCRIPTION
WEX's corporate headquarters in downtown Portland, Maine.
WEX's corporate headquarters in downtown Portland, Maine.

WEX is a global provider of payment processing and information management services. The Company primarily focuses on simplifying the complexities of payment systems across a wide range of sectors, including fleet, travel and healthcare. For the fleet industry, WEX offers fuel cards and vehicle maintenance solutions to help companies manage their fleets more efficiently. In the travel sector, WEX provides virtual payment solutions that enable travel agencies, corporate travel departments, and online travel providers to automate and manage payments to suppliers. For healthcare, WEX offers healthcare payment products and services that facilitate payments and transactions between patients, providers, and payers. WEX was formed in 1983 and is based in Portland, Maine.

DEAL STATS #
Overall 13 of 19
Sector (Business Services) 6 of 7
Type (Add-on Acquisition) 11 of 14
State (North Dakota) 1 of 2
Country (United States) 9 of 12
Year (2019) 1 of 2
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-22 Noventis

Houston, Texas, United States

Noventis, Inc. is an electronic payments network focused on optimizing payment delivery for bills and invoices to commercial entities. Noventis was founded on the principle of refusing to accept the status quo in the delivery of invoice and bill payments. From the beginning, we recognized the payment industry’s need for new ideas and we pushed past conventional thinking with innovative and progressive solutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-25 GO Fuel Card

Breda, Netherlands

GO Fuel Card offers fuel cards for vehicles to a range of customers from small and medium enterprises, commonly called SMEs, to larger fleet operators. Go Fuel Card operates on an independent proprietary card network with acceptance at over 5,000 retail sites. The Go Fuel Card business is headquartered in Breda, Netherlands with approximately 200,000 proprietary cards in circulation across the Netherlands, France, Belgium, and Luxembourg.

Buy -
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