Reuters is reporting that Georgia-based FleetCor Technologies is teaming up with a group of private-equity firms to pay more than $3 billion for Brentwood-based payment processor Comdata. Fourteen-year-old FleetCor has pulled off more than 60 acquisitions and last year recorded a profit of $285 million on revenues of $895 million. The company (Ticker: FLT) has a market value of about $11 billion and employs approximately 3,500 people, 900 of them in the United States.
Comdata executives this spring said they had filed with the Securities and Exchange Commission to go public. No further details about that process have emerged since.