Wright Express Changes Name to WEX Inc.
Wright Express Corp. announced its name change to WEX Inc. on Oct. 25.
According to the company, the new name reflects its transformation and growth strategies, which are focused on physical, digital and virtual corporate card payment solutions for businesses internationally. WEX Inc. will continue to be listed on the New York Stock Exchange under the ticker WXS.
“Today begins a new chapter in our Company’s evolution with the launch of our new, international brand, WEX Inc. This new brand is built on a foundational set of Company values ― integrity, innovation and execution ― that have remained constant as we have grown,” said Michael Dubyak, chairman, president and CEO of WEX Inc.
“The ongoing execution of our growth strategy further enables WEX Inc. to diversify its business and expand our international footprint, while maintaining our focus on expanding our core Americas’ fleet business,” Dubyak added.
Since its beginnings as a fleet card provider in 1983, through a successful initial public offering in 2005, WEX Inc. has grown exponentially to become an international company with 2011 revenues of approximately $553 million, according to the company.
WEX now provides its more than 350,000 customers ― representing more than 6.5 million cardholders ― with payment security and control across a wide spectrum of business sectors. Its operations include WEX Bank, Fleet One, Pacific Pride, rapid! PayCard, Wright Express Prepaid Cards Australia, Wright Express Fuel Cards Australia, Wright Express New Zealand and CorporatePay Limited, England, as well as a majority equity position in UNIK S.A., Brazil.
WEX and its subsidiaries employ more than 1,300 associates, the company reports.