Montréal-based Nuvei is set to acquire fellow payments processor Payoneer for $2.75 billion USD ($3.8 billion CAD) as part of a global expansion effort.
The news: After Reuters reported talks between the two companies last week, Nuvei and Payoneer made the acquisition agreement official on Monday morning. Nuvei will acquire shares of the Nasdaq-listed company for $7.40 USD per share in cash, a roughly 35-percent premium on Payoneer’s trading price prior to Reuters’ report.
Nuvei says the deal will give businesses a single partner to accept, hold, and move money, including stablecoin transactions, across more than 190 countries and territories.
From the source: “By combining complementary capabilities, we can offer businesses a more complete platform to accept payments, send funds, issue cards, manage treasury and FX needs, and access embedded financial services – at scale,” Nuvei chairman and CEO Phil Fayer said in a statement.
Following the thread: Nuvei said that the combined company is expected to process more than $500 billion in payments for more than 2.4 million customers each year, generating around $3 billion USD in annual revenue.
Multiple banks, including BMO Capital Markets, RBC Capital Markets, Barclays, UBS, and Wells Fargo committed financing for the transaction, which is expected to close in mid-2027, pending Payoneer shareholder and regulatory approval.
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Final thought: Nuvei has continued to put work into global expansion since it went private in November 2024. Shortly after that transaction, Nuvei acquired the Japanese subsidiary of British payments company Paywiser, giving it access to key payments licences in the country.
With the Payoneer deal, Nuvei put emphasis on the New York-based company’s established regulatory footprint around the world, including licence for online payment services in mainland China and authorization in principle as a cross-border payment aggregator in India.
Feature image courtesy Nuvei.