(Alliance News) - WAG Payment Solutions PLC, also known as Eurowag, on Wednesday completed the completion of Grupa Inelo SA via its subsidiary WAG Payment Solutions AS.
The EUR306 million acquisition of Inelo, a fleet management solutions and work time management provider in Poland and Slovenia, was initially announced in October.
Eurowag processes toll and fuel payments for trucks around Europe.
The company has said that the acquisition will build scale through the addition of around 87,000 connected trucks. It also enables the growth of the Eurowag network by roughly doubling the number of connected trucks from which the group collects data.
Eurowag in October said it expects Inelo to be double-digit earnings accretive in the first full year after completion of the acquisition.
Eurowag shares closed 1.8% lower at 81.80 pence each in London on Wednesday afternoon.
By Tom Budszus, Alliance News reporter
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Wag Payment (WPS)