CH Robinson sells T-Chek Systems to EFS for $302.5 million

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C.H. Robinson Worldwide today announced that it has reached a definitive agreement and has sold its payment services business, T-Chek Systems, Inc. (“T-Chek”), to Electronic Funds Source, for $302.5 million in cash. EFS acquired the assets and assumed certain liabilities of T-Chek.

T-Chek is a business-to-business provider of spend management and payment processing services. T-Chek’s technology supports a variety of funds transfer, vendor payment, fuel purchasing, and online expense management tools. Historically, T-Chek has focused on the transportation industry with its ...