GPS Capital Markets LLC, a Salt Lake City financial technology firm offering corporate foreign exchange services, has announced it has entered into an agreement to be acquired by Corpay Inc., a corporate payments company based in Atlanta.
“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,” said Brandon Parke, resident and CEO of GPS Capital Markets. “The combined capabilities of our two companies will significantly benefit our clients and our employees. 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 blue-chip 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.