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Stock impact report

Corpay to Acquire Leading Brazilian Mobile Payments Company

Corpay, Inc. (CPAY) 
Company Research Source: Business Wire
Triples TAM, Accelerates Revenue Growth ATLANTA--(BUSINESS WIRE)--Corpay, Inc. (NYSE: CPAY), a global S&P 500 corporate payments company, today announced it has signed definitive documents to acquire Gringo, a leading vehicle registration and compliance payment company in Brazil.Gringo is a super app for car drivers that makes life easier for millions of drivers in Brazil. Gringo’s digital app and national network help drivers pay for vehicle taxes, registration and fines (i.e., “car debts”) instantly. The company is growing revenue over 30% annually.“We’re thrilled to announce the acquisition of Gringo, our second deal in the 'car debts' category,” said Ron Clarke, chairman and chief executive officer, Corpay, Inc.“We’re doubling down in this space for three primary reasons. First, the car debts addressable segment is approximately three times larger than tolls, and significantly less penetrated. So, it gives us an enormous runway.“Second, we expect our new car debts segment (incl Show less Read more
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