Corpay To Acquire Cross-Border Payments Company 'GPS Capital Markets'

(RTTNews) - Corpay Inc. (CPAY) said it agreed to acquire GPS Capital Markets, LLC. GPS provides business-to-business cross-border and treasury management solutions to upper middle market companies, primarily in the US.

The transaction is expected to close in early 2025.

Following the acquisition, Corpay will process cross-border payments for about 23,000 customers in more than 145 currencies across six continents.

In addition, Corpay currently expects second quarter 2024 results to be in line with the midpoint of the financial guidance. The company will release its results for the second quarter in early August.