Wex

Amex Global Business Travel: Investor Dispute Involving Carlyle Group Doesn’t Impact Day-To-Day

A shareholder in American Express Global Business Travel is suing two investment firms, Carlyle Group and GIC, to get them to stick to their agreement to buy into the travel management company as announced in December. “An American Express Global Business Travel shareholder, the Juweel group, filed a lawsuit against the Carlyle Group and GIC…

Coronavirus Changes View Of Recent Acquisitions, Muddles Forecasts

Coupa execs on Monday confirmed it bought Yapta for about $100 million, but said the new property would underperform relative to original expectations. Wex acquired fellow payments firm eNett at what one analyst called a “steep” multiple. Recent acquisition activity is far from the only thing that looks upside-down in the new environment. Forecasting is…

Wex To Acquire Enett, The Virtual Payment Firm Majority-Owned By Travelport

Wex agreed to buy fellow business-to-business payments firm eNett and transaction optimization company Optal for a combined $1.7 billion. That includes $1.275 billion in cash and 2 mIllion shares of Wex stock. Enett is a joint venture majority owned by Travelport, with Optal (formerly PSP International) a minority owner. Enett offers virtual payment solutions for…

Troovo Turns To Virtual Payment As Entrée Into Agency Mid-Office Automation

Australia-based travel agency automation firm Troovo hit the scene a few years ago with robotics to handle various transaction processing and other agency mid-office functions. Now it’s starting to make some hay by applying those robotics to virtual payment processes. Orbit World Travel and QBT Travel have signed on. Spun out from a travel agency, Troovo…

Grasp Advances Virtual Payment Integration With Online Booking Tools

Released last month, Grasp Technologies’ latest version of the GraspPay virtual payment system integrates with online booking tools via XML connections. Aside from SAP Concur’s work to integrate virtual payment with its Compleat mid-office system, no parties had accomplished seamless online booking tool integration, Grasp vice president Dave Lukas claimed. Lukas said Grasp’s “prominent integrations” are…

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