FLEETCOR Buys AP System Company Roger
2 min readCompany payments agency FLEETCOR Systems has obtained accounts payable (AP) system provider Roger, Fleetcor introduced in a press release. Phrases of the transaction were not disclosed.
The launch mentioned, in part: “The acquisition supplies FLEETCOR with a demonstrated, fashionable automation platform for B2B on the net monthly bill payment. The platform assists [small- to medium-sized businesses (SMBs)] acquire and scan invoices and receipts, get rid of manual information entry using machine learning technological know-how, approve and execute payments, set up automated workflows, and sync to accounting techniques like QuickBooks On the internet, Sage Intacct, Xero, and others in serious time. In addition to little businesses, accounting corporations in North The usa and Europe use, refer, and resell the system nowadays in connection with their clients.”
FLEETCOR is based mostly in Atlanta. Roger was founded by two Danes and has places of work in Copenhagen and San Francisco.
Ron Clarke, chairman and CEO of FLEETCOR, claimed in the release: “This acquisition offers us with a contemporary, cloud-dependent bill payment platform that will quickly open up cross-sell alternatives into our world-wide SMB gas card foundation. It is a big step in expanding our fuel card business into a corporate payments business, and extending our latest center industry corporate payments business into the SMB space.”
The order is reliable with ideas Clarke outlined in November in the course of the publicly traded company’s 3rd quarter earnings phone.
“We’re back really aggressively on the acquisitions front,” Clarke explained, PYMNTS reported at the time. “…we are chasing a pair of new specials all-around our corporate payments room.”
Just before the earnings release, Clarke reportedly explained the organization was ready to spend up to $1 billion on acquisitions.
For the a few months finished Sept. 30, FLEETCOR described $188.8 million in internet revenue, or modified web money of $2.80 for every share, on revenue of $585 million. The organization reported present-day belongings as of Sept. 30 of $4 billion.
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