GPS Capital Markets, LLC, a leading fintech firm offering corporate foreign exchange services, announced entering into a definitive agreement to be acquired by Corpay, Inc. (NYSE: CPAY), a leading corporate payments company.

This acquisition will bring tremendous benefits to GPS Capital Markets clients, including enhanced delivery channels and expanded access to FX services across global markets.

“At GPS our clients are at the heart of everything we do. With Corpay’s resources and our team’s expertise, we are poised to provide even greater value and drive transformative outcomes in the financial markets. The combined capabilities of our two companies will significantly benefit our clients and our employees,” says Brandon Parke, President and CEO of GPS Capital Markets.

By combining the strengths of GPS Capital Markets and Corpay, we are uniquely positioned to deliver unparalleled value in the market.

“GPS is our third largest deal ever. We’re quite excited about GPS’s assets including a bluechip roster of clients, a team of terrific FX specialists, and a market-leading FX netting technology,” said Ron Clarke, Chairman and CEO of Corpay, Inc.

The transaction is expected to close in early 2025 subject to obtaining required regulatory approvals and other customary closing conditions.