{"id":521520,"date":"2021-08-02T16:09:28","date_gmt":"2021-08-02T20:09:28","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/fleetcor-expands-lodging-business-into-insurance-vertical\/"},"modified":"2021-08-02T16:09:28","modified_gmt":"2021-08-02T20:09:28","slug":"fleetcor-expands-lodging-business-into-insurance-vertical","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fleetcor-expands-lodging-business-into-insurance-vertical\/","title":{"rendered":"FLEETCOR\u00ae Expands Lodging Business Into Insurance Vertical"},"content":{"rendered":"

<\/p>\n

FLEETCOR\u00ae<\/sup> Expands Lodging Business Into Insurance Vertical<\/b><\/p>\n

Acquisition Expected to be Immediately Accretive to Earnings Upon Closing<\/i><\/p>\n

ATLANTA–(BUSINESS WIRE<\/a>)–FLEETCOR Technologies, Inc.<\/a> (NYSE: FLT), a leading global business payments company, today announced signing a definitive agreement to acquire ALE Solutions, Inc.<\/a> (ALE), a leader in lodging solutions to the insurance industry. By acquiring ALE, FLEETCOR\u00ae<\/sup> extends its lodging business into the insurance vertical. The transaction is expected to close in the third quarter of 2021, subject to regulatory approval and standard closing conditions.\n<\/p>\n

\nFounded in 2001, ALE manages the lodging needs of policyholders displaced from their homes due to damage or catastrophe on behalf of property insurance carriers. The acquisition further extends FLEETCOR\u2019s specialized lodging solutions into the insurance vertical beyond its current workforce and airline verticals. FLEETCOR expects an increase of approximately five million room nights per year and the addition of tens of thousands of long-term housing rentals upon completion of the ALE acquisition.\n<\/p>\n

\n\u201cALE\u2019s insurance solutions allow us to grow our lodging business into a new, adjacent vertical,\u201d said Ron Clarke, chairman and chief executive officer, FLEETCOR Technologies, Inc. \u201cALE brings specialized capabilities to serve the insurance vertical, including: deep insurer relationships, a unique, long-term housing rental network, specialized technology that integrates into claims systems, and tenured housing experts that deliver outstanding service levels.\u201d\n<\/p>\n

\n\u201cWe are thrilled to join the FLEETCOR team. With FLEETCOR’s scale and resources, ALE can provide enhanced service, technology, and product development that will significantly benefit our customers and their policyholders,\u201d said Rowena Zimmers, founder and president of ALE. \u201cFLEETCOR also has the financial and human capital to deepen our best-in-class service and strengthen our ability to meet the changing needs of our customers.\u201d\n<\/p>\n

\nEversheds Sutherland provided legal counsel to FLEETCOR. Sidley Austin LLP provided legal counsel to ALE.\n<\/p>\n

About FLEETCOR<\/b><\/p>\n

\nFLEETCOR Technologies (NYSE: FLT) is a leading global business payments company that simplifies the way businesses manage and pay their expenses. The FLEETCOR portfolio of brands help companies automate, secure, digitize and control payments on behalf of their employees and suppliers. FLEETCOR serves businesses, partners and merchants in North America, Latin America, Europe, and Asia Pacific. For more information, please visit www.FLEETCOR.com<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210802005647\/en\/<\/a><\/span><\/p>\n

\nInvestor Relations
\n
Jim Eglseder, 770-417-4697
\n
Jim.Eglseder@fleetcor.com<\/a><\/p>\n

\nMedia Relations
\n
Chad Corley, 770-729-5021
\n
Chad.Corley@fleetcor.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Illinois Georgia<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Technology Insurance Lodging Software Finance Travel<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
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FLEETCOR\u00ae Expands Lodging Business Into Insurance Vertical Acquisition Expected to be Immediately Accretive to Earnings Upon Closing ATLANTA–(BUSINESS WIRE)–FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global business payments company, today announced signing a definitive agreement to acquire ALE Solutions, Inc. (ALE), a leader in lodging solutions to the insurance industry. By acquiring ALE, FLEETCOR\u00ae extends its lodging business into the insurance vertical. The transaction is expected to close in the third quarter of 2021, subject to regulatory approval and standard closing conditions. Founded in 2001, ALE manages the lodging needs of policyholders displaced from their homes due to damage or catastrophe on behalf of property insurance carriers. The acquisition further extends FLEETCOR\u2019s specialized lodging solutions into the insurance vertical beyond … <\/p>\n

Continue reading “FLEETCOR\u00ae Expands Lodging Business Into Insurance Vertical”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-521520","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nFLEETCOR\u00ae Expands Lodging Business Into Insurance Vertical - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fleetcor-expands-lodging-business-into-insurance-vertical\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FLEETCOR\u00ae Expands Lodging Business Into Insurance Vertical - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"FLEETCOR\u00ae Expands Lodging Business Into Insurance Vertical Acquisition Expected to be Immediately Accretive to Earnings Upon Closing ATLANTA–(BUSINESS WIRE)–FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global business payments company, today announced signing a definitive agreement to acquire ALE Solutions, Inc. (ALE), a leader in lodging solutions to the insurance industry. By acquiring ALE, FLEETCOR\u00ae extends its lodging business into the insurance vertical. The transaction is expected to close in the third quarter of 2021, subject to regulatory approval and standard closing conditions. Founded in 2001, ALE manages the lodging needs of policyholders displaced from their homes due to damage or catastrophe on behalf of property insurance carriers. 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