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Corpay to buy Paymerang

Corpay to buy Paymerang

Corporate payments company Corpay is set to buy account payable automation outfit Paymerang. Financial terms have not been disclosed.

Paymerang adds over 250,000 merchants to Corpay’s existing merchant network of more than a million vendors, and together the businesses will process $120 billion in annual spend.

The deal, set to close in Q2, also expands Corpay's presence in education, healthcare, hospitality and manufacturing.

Ron Clarke, COE, Corpay, says: "This acquisition is right in our wheelhouse and exactly the kind of transaction we find most attractive. It’s a business growing over 20%, within Corporate Payments, where we can accelerate growth and profitability."

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