Travelex Completes Acquisition of Ruesch International
Washington, DC—September 6, 2007 — Travelex, the world’s leading global business payments specialist, today announced the completion of the acquisition of Ruesch International, a premier provider of business-to-business payment solutions, for $440 million.
The acquisition is consistent with Travelex’s international growth strategy and the combined businesses will process payments of more than $37 billion to more than one million beneficiaries annually.
Peter Burridge, Divisional Managing Director of the newly merged business commented: “The acquisition of Ruesch International will strengthen Travelex’s position as the world’s leading global business payments specialist, and will help us meet the growing demand by offering customers greater choice and more efficient services. We will offer customised payments solutions and industry specific products and services to customers globally, through our extended global reach and using our world class technology platforms.”
Robyn West, Regional Divisional Director for the Americas added: “The growing international exchange market in North America will enable our combined companies to provide the security, savings and customized benefits normally reserved for F500 corporations to emerging companies in the high growth sector of small and medium sized businesses.”
About Travelex
Travelex is the world’s leading foreign exchange and international business payments specialist and one of the world’s leading providers of outsourced travel money to banks, travel agencies and other financial institutions.
The Travelex group operates through its subsidiaries and branches in four regions: the United Kingdom; Europe, Middle East and Africa (EMEA); Americas and Asia Pacific. The Group’s activities are organised into three divisions: Global Business Payments, Retail and Outsourcing. For more information visit: www.travelex.com.
Travelex Global Business Payments
A division of the Travelex group, Travelex Global Business Payments provides international payment services and foreign exchange risk solutions for commercial customers, with products and services comprising multi-currency spot contracts, forward contracts and options. For more information visit: http://www.travelexbusiness.com.
About Ruesch International
Ruesch International is a premier provider of business-to-business payment solutions, offering a full range of payments services. The company is headquartered in Washington, DC and has more than 25 years experience in the payment processing industry. Ruesch provides its services to customers in the United States, the United Kingdom, Australia, Switzerland, and the Czech Republic.
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