FleetCor Technologies Inc. (NYSE: FLT) has acquired Travelcard Nederland, a fuel card issuer in the Netherlands. Financial terms of the deal were not disclosed. The Norcross, Ga.-based provider of fuel credit card and specialized payment products said in an Aug. 4 news release that the acquisition would give it a stronger foothold in Europe.
Travelcard was founded in 1986 by Dutch fleet management company LeasePlan. It says it has about 300 thousand active fuel cards in the market, operating across nearly all fueling stations in the Netherlands with a significant presence in Belgium and Luxembourg. FleetCor also purchased Comdata, a business-to-business electronic payments provider, in 2014 for $3.45 billion from Ceridian LLC.