06:50 AM EST, 12/03/2024 (MT Newswires) -- Corpay ( CPAY ) said late Monday it completed the acquisition of GPS Capital Markets, a business-to-business cross-board services provider, as it seeks to expand its corporate payments business.

"With the addition of Paymerang and now GPS, we expect our Corporate Payments business to exceed $1.5 billion in revenue in 2025," Corpay ( CPAY ) Chief Executive Ron Clarke said.

The two acquisitions will contribute more than $200 million in revenue and about $0.50 in cash EPS accretion in 2025.

Meanwhile, Corpay ( CPAY ) finalized the Comdata Merchant POS Solutions sale to PDI Technologies, as part of its strategic effort to focus on core operations.