Travelex completes acquisition of Ruesch International

Travelex, the world's leading global business payments specialist, has completed the acquisition of Ruesch International, a premier provider of business-to-business payment solutions, for $440 million.

The acquisition is consistent with Travelex's international growth strategy, and the combined businesses will process payments of more than $37 billion to more than one million beneficiaries annually.

Peter Burridge, managing director of the newly merged business, explained: "The acquisition of Ruesch International will strengthen Travelex's position as the world's leading global business payments specialist, and will help us meet the growing demand by offering customers greater choice and more efficient services.

"We will offer customised payments solutions and industry specific products and services to customers globally, through our extended global reach and using our world-class technology platforms."