Negotiations between Canadian-based payment solutions provider Nuvei and private equity firm Advent International are at an advanced stage. News of the negotiations was first reported by the Wall Street Journal, which was later confirmed by Reuters.
Nuvei provides payment services to various industries in more than 200 markets around the world. The company allows online retailers, sports betting platforms, and cryptocurrency companies to accept credit cards and other payment methods. Their business model is based on transaction-based fees, and they derive their income from the sum of transaction and service fees.
Nuvei also became known through the investment made in April 2023 by Ryan Reynolds, the famous Hollywood actor and businessman. Reynolds' other interests include the American Aviation Gin Company and the UK Fourth Division football club Wrexham AFC. It also previously owned telecom company Mint Mobile, which it sold to T-Mobile in March 2023 for $1.35 billion.
Nuvei is valued at C$4.1 billion ($3 billion), and if the deal succeeds, it could become one of the largest private equity deals in recent memory. News of the acquisition sent Nuvei shares soaring more than 30% in one day.
(source: fintech.hu)
(Cover image: Depositphotos)
