Discovery Benefits Sold by State Bankshares to WEX for $425 Million
WEX now employs more than 1,100 people in North and South Dakota
FARGO, N.D. — A Fargo–based business focused on simplifying employee benefits has been sold for $425 million.
Discovery Benefits was sold by State Bankshares, the same company that owns Bell Bank, to WEX, a global provider of payment processing and business solutions.
Bell Bank President and CEO Michael Solberg says the bank is not for sale.
Discovery Benefits was founded in 2003, and has become one of the fastest–growing companies centered on health savings and flexible spending accounts.
With Discovery Benefits now under their wing, WEX now employs more than 1,100 people in Fargo, West Fargo, and Brookings.