- Montreal-based payment technology company Nuvei recently announced it acquired SafeCharge for $889 million. These are the details behind the deal.
Montreal-based payment technology company Nuvei recently announced it completed the acquisition of SafeCharge International Group Limited for $889 million (CA $1.19 billion or £699 million at the announcement exchange rate). This acquisition will create a global leading solutions provider with significant scale and service clients of any size across the world. And Montreal, Quebec will become the worldwide headquarters for the combined organization.
This acquisition is strategic for both companies as it aims to accelerate the growth of the combined organization. And it will further strengthen Nuvei’s payment technology and create a truly global presence for both companies. Nuvei traditionally operated in the US and Canada on the SMB market while SafeCharge established a foothold in European, Asian, and Latin-American territories.
By utilizing SafeCharge’s market-leading technology, Nuvei reinforces its global proposition and delivers fully-supported payment solutions to its clients and distribution networks regardless of size, vertical, or geography. And Nuvei’s proprietary platform offers direct connections to all major payment card schemes worldwide with support for over 150 currencies and 180 payment types.
“This marks the dawn of a new, exciting journey for Nuvei,” said Nuvei Chairman and CEO Philip Fayer in a statement. “Thanks to SafeCharge’s technology platform, we’ve enhanced our ability to deliver powerful payment solutions to our technology partners, merchants, and resellers. With offices across 14 countries and unparalleled fintech expertise, we’ve transformed our combined organization into a diversified, global payments leader with massive scale and reach.”
For this deal to occur SafeCharge made an application to the AIM stock exchange in London for the cancellation of the admission to trading of SafeCharge shares.
“We are jointly creating an international payment giant with an unrivaled talent pool and technology stack. We are thrilled to be part of a bigger entity to further the adoption of the most innovative payments technology globally. The move will also provide our employees with more long-term career opportunities and be part of a global company, which we can all be very proud of,” added SafeCharge CEO David Avgi.
