When FleetCor Technologies, Inc. acquired Comdata Inc. last August 2014, Comdata was a "leading business-to-business provider of innovative electronic payment solutions."
At that time, Comdata was an issuer and a processor that "provides fleet, virtual card, and gift card solutions to over 20,000 customers, has approximately 1,300 employees and enables over $54 billion in payments annually."
According to Ron Clarke, chairman, and chief executive officer of FleetCor Technologies, Inc then, “Comdata’s virtual payments business will add a completely new growth leg to FleetCor, the combination will result in significant synergies as we implement our operating disciplines to their portfolio of businesses.”
One of the reasons why FleetCor acquired Comdata is its expanding potential. The acquisition was expected to expand "FleetCor’s North American fuel card business into new, unserved markets."
Also, it has allowed FleetCor to enter the virtual payments space. FleetCor has foreseen this to be a substantial business. Aside from that, the acquisition was expected to bring a dramatic increase in FleetCor’s overall scale, diversity, and earnings base.
In March 2020, Comdata launched Comdata QuickPay which is a "new financing solution that gives fleet owners access to same-day payments on the loads they deliver." This is the "latest payment innovation from Comdata’s offerings of fleet solutions to help fleets meet their financial needs."
In October 2019, Comdata launched Comdata OneLook which is a "new business intelligence solution which provides both local and trucking fleet managers with more strategic and actionable analytics from their Comdata Fuel Cards."
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