Travelex, the world's leading global business payments specialist, today announced the completion of the acquisition of Ruesch International, a premier provider of business-to-business payment solutions, for $440 million.
The acquisition is consistent with Travelex's international growth strategy and the combined businesses will process payments of more than $37 billion to more than one million beneficiaries annually.
Peter Burridge, Divisional Managing Director of the newly merged business commented: "The acquisition of Ruesch International will strengthen Travelex's position as the world's leading global business payments specialist, and will help us meet the growing demand by offering customers greater choice and more efficient services. We will offer customised payments solutions and industry specific products and services to customers globally, through our extended global reach and using our world class technology platforms."
Robyn West, Regional Divisional Director for the Americas added: "The growing international exchange market in North America will enable our combined companies to provide the security, savings and customized benefits normally reserved for F500 corporations to emerging companies in the high growth sector of small and medium sized businesses."