COMDATA ANNOUNCES AGREEMENT TO ACQUIRE TRENDAR CORPORATION.
Trendar, through its universal point-of-sale device in approximately 1,300 truck stops nationwide and a proprietary communications network, provides highly efficient transaction processing for fuel purchase, cash advance, and other transportation services. Trendar also facilitates direct billing services for truck stops and trucking companies.
"Truck stop owners and operators want to increase automation and productivity, both at the fuel desk and in the back office," said George L. McTavish, Comdata's Chairman and Chief Executive Officer. "By combining our resources with Trendar's, which has an outstanding industry reputation, we will significantly improve our ability to address their needs. With Trendar, we can also offer trucking companies superior delivery platforms for funded and unfunded transactions."
"Comdata's financial strength combined with Trendar's technology will bring exciting new functionality to Trendar customers," said Ernest Betancourt, Chairman and Chief Executive Officer of Trendar. "I see opportunities to produce and deliver a wider range of products and services to the fuel desk, provide enhanced capabilities, and ensure greater security for truck stops. This acquisition will help the transportation industry keep pace with automation, significantly increasing their ability to lower costs and increase effectiveness." Comdata is a leading provider of transaction processing services to the trucking and gaming markets. Comdata serves the transportation industry by assisting trucking companies and truck stops with data-intensive operations, such as funds transfer, fuel purchase, and permits. Cash advance services from Comdata are available at most gaming locations nationwide. Comdata Holdings Corporation common stock trades on the NASDAQ National Market System under the symbol CMDT.
CONTACT: Dennis R. Hanson Kristin M. Anderson
Chief Financial Officer Ludgate Communications
(615) 370-7782 (212) 688-7647