Published on Monday, January 27, 2020

Travelport sells eNett

Australia based travel B2B payments solutions firm eNett is being acquired by Wex Inc.

Wex will pay $1.7 billion for eNett from majority owner Travelport and minority investor Optal.

The deal also includes the acquisition of Optal.

Wex will pay $1.275 billion in cash and about two million shares of common stock.

eNett offers virtual payment solutions for travel agencies and travel suppliers in dozens of currencies.

It also provides settlement services for some currencies.

eNett virtual card numbers can also be used at all locations where Mastercard is accepted.

"The combination of WEX's travel business with eNett and Optal further strengthens our leadership in the global travel marketplace," said WEX CEO Melissa Smith.

Smith says it 'adds a unique but complementary product suite' and further expands the company's reach into Asia Pacific.

Both eNett and Optal will be integrated within the Wex business.

The transaction is expected to close by mid-2020.

Story Image

Your Comments

, be the first to post a comment.
Your email:

Email other comments made to this story

NOTE: Comments are subject to admin approval before being posted.
Mole Poll
Has the announcement of a UK quarantine further hit bookings?
YES 56.95 %
NO 43.05 %

Thank you for your vote

What is GoodtoGo?

Submit your news
or special offer

Current UK Special Edition

Current US Special Edition

Current Asia/Pacific Special Edition


Malta prepares to open up to the world

Iceland plans to launch new UK trade initiative

Mario Hardy, CEO PATA - Who dares, wins: Who will hit the reset button?

The Florida Keys is open for business ! Find out the details here