Expanding its global presence
Wright Express Corporation, a provider of value-based business payment processing and information management solutions, is expanding its global presence by acquiring a 51% interest in UNIK S.A, a provider of payroll cards (view press release). UNIK S.A provides payroll cards, private label and processing services in Brazil, specialising in the retail, government and transportation sectors.
The agreement also includes the potential to acquire the remaining shares over a three year period. The investment is anticipated to be accretive to adjusted net income starting in the first 12 months.
“Through this transaction, we further expand our global footprint with our entrance into the Brazilian market with UNIK,” said Michael Dubyak, CEO of Wright Express. “As a large and growing economy, Brazil is a very attractive market. We see significant opportunity in working with UNIK and leveraging its strong management team and growing product set. We are excited about this venture because of the synergies for expanding into the fleet market and extending our payroll card presence through UNIK’s products in Brazil.”
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