Serviços e Tecnologia de Pagamentos S.A. (STP) has recently been acquired by FleetCor Technologies, Inc., headquartered in Norcross, from a joint venture between Cosan and Shell for approximately $1.3bn.
The chairman and chief executive officer of FleetCor Technologies, Inc., Ron Clarke, commented that this is the second largest transaction FleetCor has ever made. He added that STP brings with it many assets that include proven technology, an excellent customer base, a well-known, well-respected brand, and many advancements in cardless fuel and ticketless parking programs. He expects great synergies to result as the acquisition consolidates itself into other lines of business in Brazil.
STP is an industry-leading electronic toll payments company in the South American country. Its products are accepted in all areas in its home country. It has over 4.5m active customers who use its tags and stickers to generate approximately $3.5bn in fuel, parking and toll payments. A growing number of Shell stations throughout Brazil use its cardless fuel payment system.
The headquarters of STP are in Sao Paulo, Brazil and the company employs 1,675 people. Its next step could be to partner with FleetCor and a professional Print company to create Flyers that it can distribute at the Shell stations, as well as other locations where its technology is used, to make its customers in Brazil aware of the acquisition.Get a Free Quote for Print Get a Free Quote for Flyers
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