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.
Corpay, Inc., formerly FLEETCOR Technologies, Inc., is a corporate payments company. It helps businesses and consumers pay expenses. Its suite of payment solutions helps its customers manage vehicle-related expenses, such as fueling and parking; travel expenses, such as hotel bookings, and payables, such as paying vendors. Its solutions include AP Automation, Cross-Border and Commercial Cards. Its AP Automation solutions include procure-to-pay, payment automation and integrations. Its Procure-to-Pay optimizes accounts payable workflows with scheduled payments, automated approvals and real-time tracking, and enables cash flow management and financial decisions. Its trading platform and integrated payment solutions, which can be customized as per client’s business requirements. Its Multi-Card is a payment method that offers a tailored solution designed for the client’s business transactions. Its ExpenseTrack platform offers real-time automation, robust security and customized reporting.
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