Wright Express to Buy Fleet One for $369 Million

Payment processing and information management services provider Wright Express said it will buy fuel-card provider Fleet One for $369 million.

Fleet One provides fuel cards and other fleet management information services in both the over-the-road and local fleet markets.

For the 12 months ended June 30, Fleet One had more than $56 million in revenue and has 210,000 active cards that are accepted at 60,000 locations, including 6,700 over-the-road locations.

Wright Express said it will finance the deal through its existing credit facility.