WEX Payment Solutions Announced Acquisition of Benaissance

  • M&A Deals
  • 19.11.2015 00:00 am

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.

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