Nuvei to Acquire Payoneer for $2.75 Billion in Cash
Canadian payments technology company Nuvei has agreed to acquire cross-border payments firm Payoneer for approximately $2.75 billion in cash, at $7.40 per share, representing a 44% premium over the last closing price.
Key Numbers
Canadian fintech Nuvei announced on Monday its acquisition of cross-border payments company Payoneer for about $2.75 billion in cash, as it seeks to expand its global reach. The deal values Payoneer at a significant premium.
Deal Details
- Total Value: $2.75 billion in cash
- Price per Share: $7.40
- Premium: 44% above Payoneer's closing price on June 8
- Payoneer Market Cap: Approximately $2.26 billion (per LSEG data)
- Source: Reuters
Rationale
Nuvei aims to strengthen its cross-border payments capabilities, tapping into Payoneer's extensive network in emerging markets and its technology platform. The acquisition is expected to accelerate Nuvei's growth in the fast-growing cross-border e-commerce segment.
Regulatory Hurdles
The deal will likely face regulatory reviews in multiple jurisdictions. No closing date has been announced yet.
Impact on Stocks
Nuvei (TSX: NVEI) and Payoneer (NASDAQ: PAYO) shares are expected to react in upcoming sessions. Payoneer's stock traded at $5.14 before the announcement, making the offer price attractive for shareholders.
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