Lightyear Capital LLC entered into a definitive agreement to acquire PayByPhone Technologies Inc. from Corpay, Inc. (NYSE:CPAY) on February 4, 2026. The transaction is not expected to have a material impact on Corpay?s 2026 Cash EPS outlook. Under Lightyear?s ownership, PayByPhone will operate as a stand-alone independent business.
The sale is expected to close in the second quarter of 2026, subject to regulatory approvals.
Deutsche Bank Securities Inc. acted as financial advisor for Corpay, Inc. Patrick S. Baldwin of Jones Day acted as legal advisor for Corpay, Inc. Michael Davis, Pritesh P. Shah, Ethan R. Goldman, Adam Kaminsky, Robert F. Smith of Davis Polk & Wardwell LLP acted as legal counsels for Lightyear Capital LLC. Tobias Schneiders, Thomas Meurer, Matthias Rothkopf, Gerrit Tönningsen,Jan Bonhage, Michael Schramm, Christian Hoefs, Philipp Otto Neideck and Vera Jungkind from Hengeler Mueller Partnerschaft von Rechtsanwälten mbB acted as legal advisor to Lightyear Capital LLC.
Lightyear Capital LLC completed the acquisition of PayByPhone Technologies Inc. from Corpay, Inc. (NYSE:CPAY) on April 6, 2026. The transaction is expected to be neutral to Corpay?s 2026 Cash EPS outlook, as Corpay intends to use the cash proceeds for share repurchases.
Corpay, Inc. is a corporate payments company. The Company provides a broad suite of payment and spend management solutions, including accounts payable automation and cross-border payment solutions, commercial card programs (purchasing cards, business cards and virtual cards), vehicle payment solutions (fuel cards, toll payments and related services) and lodging payment solutions. Its segments include Corporate Payments, Vehicle Payments, Lodging Payments and Other. Corporate Payments segment helps businesses streamline the management, processing and payment of their domestic and international invoices and make point-of-sale purchases for their employees. Vehicle Payments segment is purpose-built to enable its customers to pay for vehicle related expenses. Lodging Payments segment helps businesses manage and control their lodging costs, simplify the management of offerings from hotels and long-term housing arrangements. Other segments include its gift and payroll card businesses.
This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of rankings based on the following ratings: Returns (Composite), Profitability (Composite) and Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully read the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
