WEX Completes Acquisition of Discovery Benefits, Inc.

SOUTH PORTLAND, Maine–(BUSINESS WIRE)–WEX
Inc.
(NYSE: WEX), a leading financial technology service provider,
announced today that it has completed the previously announced
acquisition of Discovery Benefits, Inc. (“DBI”), a high-growth employee
benefits administrator to more than one million consumers across all 50
states.

“The acquisition of Discovery Benefits is a significant milestone for
WEX as it combines two integral parts of the consumer-directed benefits
value chain, strengthening WEX’s position as a leading provider of
innovative healthcare technology solutions,” said Melissa Smith, the
Chief Executive Officer of WEX. “We are excited to provide partners and
customers with a more comprehensive suite of products and services, and
expand the Company’s diverse go-to-market channels to include consulting
firms and brokers.”

SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” intended to
qualify for the safe harbors from liability established by the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can generally be identified as such by the context of the
statements, including words such as “believe,” “expect,” “anticipate,”
“plan,” “may,” “would,” “intend,” “estimate,” “guidance” and other
similar expressions, whether in the negative or affirmative, although
not all forward-looking statements contain such words. These
forward-looking statements are based on current expectations, estimates,
forecasts and projections about the industry and markets in which the
Company operates and management’s beliefs and assumptions. There can be
no assurance that the acquisition will: strengthen the Company’s
position as a leading provider of innovative healthcare technology
solutions; provide partners and customers with a more comprehensive
suite of products and services; or, expand the Company’s diverse
go-to-market channels to include consulting firms and brokers. The
Company cannot guarantee that it actually will achieve the financial
results, plans, intentions, expectations or guidance disclosed in the
forward-looking statements made. Such forward-looking statements involve
a number of risks and uncertainties, any one or more of which could
cause actual results to differ materially from those described in such
forward-looking statements. Such risks and uncertainties include or
relate to, among other things: the effects of general economic
conditions on fueling patterns as well as payment and transaction
processing activity; the impact of foreign currency exchange rates on
the Company’s operations, revenue and income; changes in interest rates;
the impact of fluctuations in fuel prices; the effects of the Company’s
business expansion and acquisition efforts; potential adverse changes to
business or employee relationships, including those resulting from the
completion of an acquisition; competitive responses to any acquisitions;
uncertainty of the expected financial performance of the combined
operations following completion of an acquisition; the ability to
successfully integrate the Company’s acquisitions; the ability to
realize anticipated synergies and cost savings; unexpected costs,
charges or expenses resulting from an acquisition; the Company’s failure
to successfully operate and expand ExxonMobil’s European and Asian
commercial fuel card programs; the failure of corporate investments to
result in anticipated strategic value; the impact and size of credit
losses; the impact of changes to the Company’s credit standards;
breaches of the Company’s technology systems or those of third-party
service providers and any resulting negative impact on the Company’s
reputation, liabilities or relationships with customers or merchants;
the Company’s failure to maintain or renew key agreements; failure to
expand the Company’s technological capabilities and service offerings as
rapidly as the Company’s competitors; failure to successfully implement
the Company’s information technology strategies and capabilities in
connection with its technology outsourcing and insourcing arrangements
and any resulting cost associated with that failure; the actions of
regulatory bodies, including banking and securities regulators, or
possible changes in banking or financial regulations impacting the
Company’s industrial bank, the Company as the corporate parent or other
subsidiaries or affiliates; the impact of the Company’s outstanding
notes on its operations; the impact of increased leverage on the
Company’s operations, results or borrowing capacity generally, and as a
result of acquisitions specifically; the incurrence of impairment
charges if the Company’s assessment of the fair value of certain
reporting units changes; the uncertainties of litigation; as well as
other risks and uncertainties identified in Item 1A of the Company’s
Annual Report for the year ended December 31, 2017, filed on Form 10-K
with the Securities and Exchange Commission on March 1, 2018.

The Company’s forward-looking statements do not reflect the potential
future impact of any alliance, merger, acquisition, disposition or stock
repurchases. The forward-looking statements speak only as of the date of
this press release and undue reliance should not be placed on these
statements. The Company disclaims any obligation to update any
forward-looking statements as a result of new information, future events
or otherwise.

About WEX

Powered by the belief that complex payment systems can be made simple,
WEX (NYSE: WEX) is a leading financial technology service provider
across a wide spectrum of sectors, including fleet, travel and
healthcare. WEX operates in more than 10 countries and in more than 20
currencies through more than 4,800 associates around the world. WEX
fleet cards offer 11.5 million vehicles exceptional payment security and
control; Purchase volume in its travel and corporate solutions grew to
$30.3 billion in 2017; And the WEX Health financial technology platform
helps 300,000 employers and more than 25 million consumers better manage
healthcare expenses. For more information, visit www.wexinc.com.

Contacts

Media:
Jessica Roy
[email protected]
207.523.6763

Investors:
Steve
Elder
[email protected]
207.523.7769

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