Comdata Corporation Acquires Assets of Fleet Team, Inc.; Addition of Maintenance Software Signals Major Step in Comdata's Transaction Capability and Merchant Network

Business Wire, Nov 14, 2003

Business Editors

BRENTWOOD, Tenn.--(BUSINESS WIRE)--Nov. 14, 2003

Comdata Corporation(R), a wholly owned subsidiary of Ceridian Corporation (NYSE:CEN), announced today the acquisition of the assets of Fleet Team, Inc., a Del.-based transaction management software and business systems company specializing in services for the commercial fleet market. Fleet Team will become an operating unit of Comdata's Merchant Services division, which provides point-of-sale (POS) systems and related programming for truck stops, convenience stores and automotive retailers. Specific financial terms were not disclosed.

"Comdata has been widely recognized as the leading supplier of transaction services for over-the-road trucking companies in North America, and this transaction expands our traditional commercial fleet footprint to the retail marketplace," said Frank Adelman, executive vice president and general manager, Comdata Merchant Services. "This acquisition allows Comdata to supply even greater, more highly specialized transaction services we're known for to a wider range of merchants."

With the acquisition of the Fleet Team software, Comdata will offer more than just efficient payment transaction to local fleet managers and the merchants who serve them. The acquisition brings together transaction technology and maintenance records on a vehicle-by-vehicle basis. In short, when tires are purchased for a vehicle, that piece of maintenance history is captured, along with the purchase, in a set of comprehensive reports that track maintenance activity and costs.

According to statistics from Automotive Fleet magazine, the commercial fleet market consists of more than 10 million vehicles with fleet managers who spend more than $30 billion on fuel and vehicle maintenance expenses annually. The Comdata solutions will come to the aid of fleet managers who have traditionally struggled with ways to capture specialized data (vehicle maintenance records, warranty information, individual vehicle expenses to date) at the point of sale (POS), since most maintenance shops are configured to serve retail customers who do not typically need this information. The Comdata/Fleet Team solution ties this information together with fuel purchases at the POS device, providing fleet managers with a complete picture of up-to-date expenses pertaining to a particular vehicle.

As part of the acquisition, Pat Madigan, a founding member of Fleet Team, Inc., joins Comdata as director of national accounts. Before growing Fleet Team, Pat previously served as vice president of support sales for Tires Plus, a national automotive tire retailer with more than 600 stores.

About Comdata Corporation

Comdata Corporation(R) (www.comdata.com) is redefining the movement of money and information through technology for businesses, their customers and employees. A leading provider of transaction and information services, Comdata provides credit and debit processing and reporting for commercial fleets and merchants, electronic cash, gift and smart / chip card programs for retailers and governmental agencies, Comchek(R) eCash payroll services for food, retail and other service industries, and point-of-sale equipment for travel plazas and convenience stores. Headquartered in Brentwood, Tenn., Comdata employs more than 1,600 people internationally. Comdata is a wholly owned subsidiary of Minneapolis-based Ceridian Corporation (NYSE: CEN).