- Business payments technology company Nuvei will acquire B2B payments company Paya.
- Nuvei anticipates the purchase will help it add integrated payment capabilities, diversify its business, and grow in the B2B payments space.
- The deal is expected to close for $1.3 billion.
Payment technology solutions provider Nuvei announced this week it has acquired B2B payments company Paya. The all-cash transaction is expected to close for $9.75 per share for a total value of around $1.3 billion.
Paya’s payment technology helps businesses accept payments and get paid faster and more efficiently. The company’s solutions range from payment acceptance, disbursement, and ACH, to marketing services and developer integrations.
Canada-based Nuvei anticipates the purchase will help it add integrated payment capabilities, diversify its business, and grow in the B2B payments space. Specifically, combining Paya’s integrated payment capabilities into Nuvei’s platform will add value and growth potential. Additionally, Nuvei will be able to leverage Paya’s integrations with 300 independent software vendors and commerce solutions to enter into the software-led market.
“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 eCommerce, Integrated Payments and business-to-business,” said Nuvei Chief Executive Officer Philip Fayer. “The proposed transaction will combine two people-first, technology-led, high-growth payment platforms. It will accelerate our integrated payment strategy, diversify our business into key high-growth non-cyclical verticals with large addressable end markets, and enhance the execution of our growth plan.”
Founded in 2003, Nuvei offers global card acquiring services, alternative payment methods, crypto payments, fraud and risk management, analytics and more. The company serves businesses across a range of industries in more than 200 global markets, facilitating 150 currencies. Nuvei went public in 2020 and now has a market capitalization of $5.58 billion.
Today’s buy marks Nuvei’s 6th acquisition. The company acquired Smart2Pay and BaseCommerce in 2020, and purchased Mazooma, Simplex, and Paymentez in 2021.
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- Source: https://finovate.com/nuvei-acquires-paya-for-1-3-billion/