- Nuvei Corporation (NVEI) and Paya Holdings have signed a definitive agreement regarding the acquisition of Paya
- Nuvei will acquire Paya in an all-cash transaction at US$9.75 per share for total consideration of approximately $1.3 billion
- The transaction is expected to close by the end of the first quarter of 2023
- Nuvei Corp is a provider of payment technology solutions to merchants and partners
- Paya Holdings is a leading provider of integrated payment and frictionless commerce solutions
- Nuvei Corporation opened trading at C$36.41
Nuvei Corporation (NVEI) and Paya Holdings have signed a definitive acquisition agreement.
Nuvei will acquire Paya in an all-cash transaction at US$9.75 per share for total consideration of approximately $1.3 billion.
“The proposed acquisition of Paya is a powerful next step in the evolution of Nuvei, creating a preeminent payment technology provider with strong positions in global e-commerce, integrated payments and business-to-business,” noted Philip Fayer, Nuvei’s Chair and Chief Executive Officer.
“The proposed transaction will combine two people-first, technology-led, high-growth payment platforms,” he added.
Nuvei believes that the transaction will accelerate its integrated payment strategy, diversify its business into key high-growth non-cyclical verticals with large addressable end markets and enhance the execution of its growth plan.
“We are pleased to have reached this transaction with Nuvei, which is a testament to the incredible talent at Paya and will deliver immediate and significant cash value to Paya shareholders,” stated Jeff Hack, Paya’s Chief Executive Officer.
The transaction has been unanimously approved by each party’s board of directors, and the board of directors of Paya intends to recommend the transaction to Paya’s stockholders.
The transaction is expected to close by the end of the first quarter of 2023.
The proposed transaction is expected to deliver up to $21 million of estimated run-rate cost synergies within 24 months, as well as provide attractive revenue synergy upside potential by bringing Nuvei’s global capabilities as additional offerings to Paya’s partners and customers.
Nuvei Corp is a provider of payment technology solutions to merchants and partners.
Paya Holdings is a leading provider of integrated payment and frictionless commerce solutions that help customers accept and make payments, expedite the receipt of money, and increase operating efficiencies.
Nuvei Corporation opened trading at C$36.41.