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.
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Posted inBusiness, Maine, News
Wex reports drop in revenue and income
The pandemic continues to constrain growth for the Portland-based company.
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Posted inBusiness, Maine
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.
Posted inBusiness, Maine, News
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.
Posted inBusiness, Maine, News, Uncategorized
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.
Posted inBusiness, Maine, News
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.
Posted inBusiness, Maine, News
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.
Posted inBusiness, Maine, News
Economic impact of coronavirus cuts into Wex revenue projections
The Portland-based company expects earnings to be down at least 2% for the first three months of this year.
Posted inBusiness, Maine, Uncategorized
Fast-growing Wex to acquire two companies in $1.7 billion deal
The acquisition would enhance Wex’s payment processing position in the global travel industry.
Posted inBusiness
Wex makes Fortune’s list of fastest-growing public companies
The Portland-based payment-processing technology firm ranked No. 72 on the top 100 list.