(RTTNews) - Canadian payments technology company Nuvei on Monday said it has agreed to acquire Payoneer Global Inc. (PAYO) for $7.40 per share in cash, valuing the company at about $2.75 billion.
"The acquisition of Payoneer marks a defining step in Nuvei's evolution into a global financial infrastructure leader," said Phil Fayer, Chairman and Chief Executive Officer of Nuvei. "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."
The combined company is expected to generate about $3 billion in annual revenue and process more than $500 billion in annual payment volume for over 2.4 million customers.
The deal is expected to close in mid-2027.
PAYO shares rose 0.6% in pre-market trading after closing at $6.75 on Friday.
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