Wright Completes Retail Decisions Deal

Published September 15, 2010, 12:40 p.m. EDT

Updated September 15, 2010, 11:40 a.m. EDT

1 Min Read

Wright Express Corp. has completed its acquisition of the Australian prepaid and fleet card operations of Retail Decisions Ltd., the South Portland, Maine-based fleet card company announced on Sept. 15.

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Wright in July announced plans to pay $318 million for ReD Fuel, which issues fuel cards for fleets in Australia, and ReD Prepaid, which controls about 60% of Australia’s prepaid card market (see story).

The deal with the London-based company furthers Wright’s goal of expanding in key international markets and diversifying its revenue sources, the company says.

“We believe this transaction builds on our existing strategy in Europe and the Asia Pacific region, where we have been pursuing opportunities as a private-label fleet card processor for major oil companies,” Michael Dubyak, Wright chairman and CEO, said in a statement.

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