WEX closes buy of Electronic Funds Source

WEX Inc said July 1 that it closed its buy of Electronic Funds Source LLC from Warburg Pincus. The deal was announced in October. Electronic Funds Source provides corporate payment solutions. WEX said it paid approximately $1.1 billion in cash and issued approximately 4.0 million shares of its common stock to Warburg. David Leinwand and Matt Salerno of Cleary Gottlieb represented Warburg.

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