FLEETCOR® Strengthens its Airline Lodging Business with Airline Software Acquisition

Rhea-AI Summary

FLEETCOR Technologies, Inc. (NYSE: FLT) has announced the acquisition of Levarti, an airline software platform that automates passenger disruptions, including notifications, re-bookings, and accommodations. Levarti's MAX software has been adopted by numerous global airlines since its launch in 2014, enhancing passenger experience with digital solutions. This acquisition aims to streamline operations for airline clients and boost sales in FLEETCOR’s lodging segment, leveraging existing airline relationships.

Positive

• Acquisition of Levarti enhances offerings in passenger disruption automation.
• Levarti's established MAX software suite is adopted by several global airlines.
• Expected to accelerate sales within FLEETCOR's airline lodging segment.

Negative

• None.

Complementary Solution Aimed at Accelerating Airline Lodging Sales

ATLANTA--(BUSINESS WIRE)-- FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global business payments company, announced today the acquisition of Levarti, an airline software platform company. Levarti provides a suite of solutions that automate passenger disruptions including passenger notifications, flight re-bookings, hotel accommodations, transfers and vouchers.

Levarti’s MAX software suite was launched in 2014 with a number of global airlines adopting it to digitize their airport operations and communications. Levarti’s MAX mobile apps provide passengers with an end-to-end digital experience from check-in, during flight with contactless payments, and through baggage tracking and claim.

FLEETCOR^®’s existing airline lodging unit books millions of hotel room nights for global airlines’ crews and disrupted passengers each year.

“This acquisition gives us a complementary solution to further automate and streamline passenger disruption events for our airline clients. We expect our combined offering will be of great interest to airlines, and lead to accelerated sales in our lodging airline segment,” Ron Clarke, chairman and chief executive officer, FLEETCOR Technologies, Inc.

“We are thrilled to join the FLEETCOR team. FLEETCOR has a set of airline relationships with the potential to accelerate our sales pipeline,” said Anthony Murray, founder and CEO of Levarti.

Eversheds Sutherland (International) LLP provided legal counsel to FLEETCOR. Taylor Vinters LLP provided legal counsel to Levarti’s sellers.

About FLEETCOR

FLEETCOR Technologies (NYSE: FLT) is a leading global business payments company that simplifies the way businesses manage and pay their expenses. The FLEETCOR portfolio of brands help companies automate, secure, digitize and control payments on behalf of their employees and suppliers. FLEETCOR serves businesses, partners and merchants in North America, Latin America, Europe, and Asia Pacific. For more information, please visit www.FLEETCOR.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220303005715/en/

Investor Relations

Jim Eglseder, 770-417-4697

Jim.Eglseder@fleetcor.com



Media Relations

Chad Corley, 770-729-5021

Chad.Corley@fleetcor.com

Source: FLEETCOR Technologies, Inc.

FAQ

What is FLEETCOR Technologies' acquisition of Levarti about?

FLEETCOR Technologies acquired Levarti to enhance its airline lodging solutions, focusing on automating passenger disruptions.

How does Levarti's technology benefit FLEETCOR's airline clients?

Levarti's technology automates passenger notifications, re-bookings, and accommodations, improving operational efficiency for airlines.

What is the significance of Levarti's MAX software suite?

The MAX software suite provides airlines with a digital platform to manage operations and enhance passenger experience.

What impact is expected from the acquisition for stock symbol FLT?

The acquisition is anticipated to drive sales growth in FLEETCOR's lodging segment by leveraging existing airline relationships.