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Nuvei has agreed to be acquired by Introduction Worldwide, which plans to take Nuvei personal in an all-cash deal valued at round $6.3 billion.
Nuvei initially went public in 2020 and has a present market capitalization of $6.08 billion.
The deal is anticipated to shut in late 2024 or early 2025.
Fee acceptance know-how supplier Nuvei introduced this week it has agreed to go personal by way of an acquisition by personal fairness agency Introduction Worldwide. The all-cash deal values Nuvei at round $6.3 billion.
Canada-based Nuvei gives international card buying providers, different fee acceptance strategies, crypto funds, fraud and threat administration, analytics and extra. The corporate gives serves companies throughout a variety of industries in additional than 200 international markets, facilitating 150 currencies by way of 600 fee strategies. Nuvei’s clients embrace massive manufacturers similar to New Steadiness, Shein, and Microsoft.
“This transaction marks the start of an thrilling new chapter for Nuvei, and we’re glad to companion with Introduction to proceed to ship for our clients and staff and capitalize on the numerous alternatives that this funding offers,” stated Nuvei Chair and CEO Philip Fayer. “Our strategic initiatives have all the time centered on accelerating our clients income, driving innovation throughout our know-how, and growing our folks. Bringing in a companion with such in depth expertise within the funds sector will proceed to help our growth.”
Fayer will proceed to function Nuvei’s Chair and CEO and can lead enterprise operations. The corporate’s present management workforce will even stay in place as soon as the deal is closed.
Nuvei went public in 2020 and now has a market capitalization of $6.08 billion. The corporate anticipates that working beneath Introduction, which has been investing within the funds area since 1984, will supply it assets, operational and sector experience, and the capability for funding.
“Our deep experience and expertise in funds give us conviction within the alternative to help Nuvei because it continues to scale from its base in Canada as a world participant within the area,” stated Introduction Managing Director Bo Huang. “We look ahead to collaborating intently with Nuvei to capitalize on rising alternatives to assist form the way forward for the funds trade.”
The deal is anticipated to shut in late 2024 or early 2025.
Picture by Mikhail Nilov
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