WEX Signs Agreement to Acquire Noventis
WEX has announced the signing of an agreement to acquire Noventis, an electronic payments network focused on optimising payment delivery for bills and invoices to commercial entities.
WEX has a longstanding relationship with Noventis as a critical supplier of virtual cards that enable payment transactions through Noventis’ network. This acquisition is designed to expand WEX’s reach as a corporate payments supplier and provide more channels to billing aggregators and financial institutions. The combined offering will provide a path to additional payments functionality and flexibility to Noventis’ customers, including financial institutions, bill pay processors and accounts payable (AP) software providers. The transaction is expected to close in the first half of 2019 following customary regulatory approvals.