SOUTH PORTLAND, Maine--(BUSINESS WIRE)--WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced the completion of its acquisition of Benaissance, a leading provider of integrated software-as-a-service (SaaS) technologies and services for healthcare premium billing, payment and workflow management. Benaissance is now a wholly-owned subsidiary of WEX and will be part of the Evolution1 business unit.
“The close of this transaction advances our strategy to grow our reach and enhance our offering in the healthcare space,” said Melissa Smith, WEX’s president and chief executive officer. “The addition of Benaissance builds on the success we have already had in this industry, by enhancing our addressable market opportunity while enabling us to provide an expanded and differentiated solution to our partners. We are pleased to be welcoming Benaissance’s team to WEX and look forward to the opportunities this transaction will bring for the combined business.”
On October 15, 2015, WEX announced plans to acquire Benaissance.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of corporate payment solutions. From its roots in fleet card payments beginning in 1983, WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing more than 9 million vehicles and offering exceptional payment security and control across a wide spectrum of business sectors. WEX serves a global set of customers and partners through its operations around the world, with offices in the United States, Australia, New Zealand, Brazil, the United Kingdom, Italy, France, Germany, Norway, and Singapore. WEX and its subsidiaries employ more than 2,000 associates. The Company has been publicly traded since 2005, and is listed on the New York Stock Exchange under the ticker symbol “WEX.” For more information, visit www.wexinc.com and follow WEX on Twitter at @WEXIncNews.