FLEETCOR Technologies?has signed an agreement to acquire Dublin-based online travel management platform Roomex, the companies announced on Friday (21 October).?
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The deal is expected to close in November and will expand US-based FLEETCOR¡¯s lodging business into Europe as well as provide a platform for further international growth.
The acquisition comes after Roomex recently doubled its headcount and launched its preferred hotel programme in 2020 following an earlier Series A fundraising round that secured €8 million. The company currently operates in Ireland, the UK and Germany and was recently recognised at the Business Travel Awards Europe 2022 after being named a finalist in the categories of ¡®Accommodation Innovation¡¯ and ¡®Payments & Expenses¡¯.??
FLEETCOR Technologies chairman and CEO, Ron Clarke, said the acquisition ¡°provides us a base of operations, expertise and a hotel network from which we can build out the lodging business across Europe while leveraging the significant client base we already have there¡±.
FLEETCOR¡¯s existing lodging business includes a network of 45,000 hotels, primarily in the US. The company also owns UK-based fuel and EV management specialist Allstar Business Solutions.
Roomex CEO, Garry Moroney, added FLEETCOR¡¯s ¡°distribution scale, payment solutions and client relationships will enable Roomex to expand its product offering and accelerate our sales growth¡±.