Advent International Acquires Nuvei in $6.3 Billion Deal

Private equity firm Advent International has announced its acquisition of Canada’s Nuvei in a deal worth $6.3 billion. The deal, valued at $34 per share, marks a notable transition for Nuvei as it goes private, nearly four years after being listed on the Toronto Stock Exchange.

Nuvei, a payments technology firm, has garnered attention not only for its innovative solutions but also for its notable backing from actor Ryan Reynolds. The acquisition underscores growing interest in the fintech space, with Nuvei being valued at a substantial $6 billion in market capitalization.

The agreement represents one of the more sizable take-private deals in recent times, noteworthy for a period where private equity dealmaking has experienced a slowdown. With a premium of 56% to the company’s closing price on the Nasdaq before media reports surfaced in mid-March, the acquisition demonstrates Advent International’s confidence in Nuvei’s potential.

Read more: Report: Nuvei on Verge of Buyout Deal With Advent

Philip Fayer, the current CEO of Nuvei, is set to continue leading the company following the acquisition. Moreover, Nuvei will maintain its headquarters in Montreal, reinforcing its commitment to its Canadian roots.

Nuvei has positioned itself as a leader in providing payments technology to businesses, offering solutions that enable seamless payment processing irrespective of customers’ locations or preferred payment methods. This acquisition by Advent International is poised to further bolster Nuvei’s capabilities and expansion strategies in the ever-evolving fintech landscape.

Source: Reuters