Houston, TX and San Mateo, CA (January 5, 2006) —U.S. Bank Voyager Fleet Systems, a major provider of fleet card payment services, has acquired Advent Business Systems, Inc., based in San Mateo, Calif. Advent provides technology that is deemed to be the most powerful, comprehensive and complete accounting management systems available to the petroleum and energy product supply chain. Terms of the transaction were not disclosed.
Through this acquisition, U.S. Bank Voyager Fleet Systems now has superior technology solutions that can be integrated with Voyager's payment card issuance and processing capabilities to provide a full spectrum of services to fuel marketers and other petroleum and energy product supply chain participants. Advent brings a new dimension to the product offerings that Voyager offers channel partners — regional fuel card marketers — with full-scale, enterprise-wide computing capabilities that allow a fuel marketer to consolidate all aspects of its operations within a single technology platform.
"Advent's core product capabilities are a perfect compliment to the Voyager program," said Rob Abele, president of U.S. Bank Corporate Payment Systems. "Our strategic goal is to use one of the most powerful platforms in the industry to provide an array of payment card and related products to small and middle market fleets."
David Le Vine, president of Advent Business Systems, Inc. said, "This is a tremendous fit for Advent, Voyager and U.S. Bank, and we are excited to be a part of this great company. Our systems and software are already far ahead of other offerings in this space, and now we'll have new resources to take our technologies even further and to add them into Voyager's fleet products."
U.S. Bank Voyager Fleet Systems Inc. is a leading provider of the universal fleet fueling and maintenance card for over 1.5 million vehicles. Specifically designed to serve the needs of any size fleet, Voyager issues the Voyager Fleet Card, accepted at over 200,000 retail locations in all 50 states and provides comprehensive fleet management information services to commercial businesses and government agencies. Voyager Fleet Systems is based in Houston. Visit Voyager online at www.usbank.com/voyagerfleet.
U.S. Bancorp (NYSE: USB), with $321 billion in assets, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. The company operates 3,086 banking offices and 5,086 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions.
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