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December 2, 2014

WEX acquires ExxonMobil’s European commercial fuel card program

WEX, a provider of corporate payment solutions, has acquired the assets of ExxonMobil's European commercial fuel card (Esso Card) program through a majority owned joint venture, WEX Europe Services.

By Verdict Staff

WEX, a provider of corporate payment solutions, has acquired the assets of ExxonMobil’s European commercial fuel card (Esso Card) program through a majority owned joint venture, WEX Europe Services.

Both the parties will enter into a long term supply agreement to serve the current and future Esso Card customers and to grow the business via the agreement.

The transaction will yield strategic and operational benefits thereby increasing WEX’s operational footprint and the ESSO Card program’s potential impact on further expansion efforts.

Melissa Smith, president and CEO of WEX, said: "Expanding our presence in the European market through the addition of the Esso Card program enables us to broaden our international footprint, while laying the foundation for further expansion."

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