Wex, one of Maine’s largest tech firms, reported a drop in revenue and profits for the year, which it attributed largely to the coronavirus pandemic.
WEX
Wex settles lawsuit, buys companies in UK at reduced price
The Portland company was sued after it pulled out of a $1.7 billion purchase of the two companies, but wound up buying both for a third of the original price.
Wex reports drop in revenue and income
The pandemic continues to constrain growth for the Portland-based company.
British court issues ruling favorable to Wex in UK lawsuit
The Portland-based company wants out of a $1.7 billion deal to buy 2 British firms, citing the negative effects the coronavirus pandemic has had on their value.
Portland-based Wex secures $400 million private investment
The investment by New York-based private equity firm Warburg Pincus LLC will help Wex navigate ‘the current uncertain operating environment,’ it said.
Wex sued in UK court for canceling $1.7 billion acquisition
The Portland-based company had agreed to purchase two travel payment firms for $1.7 billion, but backed out because of the coronavirus pandemic.
Travel restrictions worry Wex after solid first quarter
The Portland-based payment processing technology firm says business declined in April because of pandemic-related restrictions on travel.
Wex announces layoffs, furloughs affecting 5% of its workforce
Business has slowed abruptly for the Portland-based payment-processing technology firm, whose CEO bought and sold thousands of company shares 2 days before the price started falling.
Maine employers send workers home, make drastic changes
The coronavirus is forcing large Portland-area businesses to adopt new rules to keep workers healthy and business humming.
Wex ‘strongly encouraging’ its employees worldwide to work from home
The Portland-based payment technology firm says it hopes to have employees fully transitioned to remote work by March 20.