Payment technology firm Nuvei Corp. has agreed to acquire the U.S. cross-border payment platform Payoneer Global Inc. for US$2.75 billion in a deal that expands the Canadian company's reach to more than 190 countries.
Deal Details
The agreement offers Payoneer shareholders US$7.40 cash per common share, representing a 44 per cent premium from last week's share price. The transaction is expected to close in mid-2027, pending Payoneer shareholder and regulatory approvals.
Strategic Benefits
Nuvei, based in Montreal, and Payoneer, based in New York, process payments for individuals and companies, including through stablecoins. Together, they are expected to generate about US$3 billion in annual revenue.
Phil Fayer, chief executive of Nuvei, said in a news release: "The acquisition of Payoneer marks a defining step in Nuvei's evolution into a global financial infrastructure leader. By combining complementary capabilities, we can offer businesses a more complete platform to accept payments, send funds, issue cards, manage treasury and FX needs, and access embedded financial services – at scale."
Expanded Capabilities
Nuvei said the deal provides a regulatory footprint in China and offers authorization in principle in India, while also supporting emerging financial markets, such as cryptocurrencies. It will also open the door for Nuvei to work with major e-commerce firms such as Amazon.com Inc., eBay Inc., Walmart Inc., Shopify Inc. and Airbnb Inc.
With files from Bloomberg News.
