FleetCor Technologies Inc. (NYSE: FLT) spent almost as much money in yesterday's acquisition of AllStar Business Solutions, Ltd. as it has over the course of all its acquisitions in the past 5 years.
On 13-Dec-11, FLT ($2.38 bn market cap) announced the consummation of a $304 million purchase of AllStar Business Solutions Ltd. Since 2007, the company has completed at least 8 acquisitions totaling more than $347 million. Given the context of the past five years, yesterday's single expenditure of $304 million is a lot to digest. Considering most acquisitions fail, investors with an interest in this name will do well to stay especially vigilant going forward.
Here is a link to the company's press release, detailing the purchase.