M&A Deal Summary

WEX Acquires Optal

On January 24, 2020, WEX acquired internet software and services company Optal

Acquisition Highlights
  • This is WEX’s 3rd transaction in the Internet Software and Services sector.
  • This is WEX’s 2nd transaction in Australia.

M&A Deal Summary

Date 2020-01-24
Target Optal
Sector Internet Software and Services
Buyer(s) WEX
Deal Type Add-on Acquisition
Advisor(s) Financial Technology Partners - FT Partners (Financial)
Herbert Smith Freehills (Legal)

Target

Optal

Melbourne, Australia
Optal Ltd. is specialized in optimizing B2B transactions. Optal is based in Melbourne, Australia.

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Buyer(S) 1

Buyer

WEX

Portland, Maine, United States

Category Company
Founded 1983
Sector Information Technology
Employees6,500
Revenue 2.6B USD (2024)
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 16 of 19
Sector: Internet Software and Services M&A 3 of 4
Type: Add-on Acquisition M&A Deals 12 of 14
Country: Australia M&A 2 of 2
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-24 eNett International Pte.

Singapore

eNett International (Singapore) Pte. Ltd. is a provider of B2B payment solutions to the travel industry. eNett International was founded in 1999 and is based in Singapore.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-11 HealthcareBank - HSA Assets

Fargo, North Dakota, United States

HealthcareBank's HSA Assets provides HSA solutions (health savings account). HealthcareBank's HSA Assets is based in Fargo, North Dakota.

Buy -