Nuvei provides payments technology to businesses, allowing them to pay and accept payments regardless of their customers’ location or preferred payment method.
Existing shareholders – Fayer, private equity firm Novacap and Canadian pension fund CDPQ – are expected to indirectly own or control about 24%, 18% and 12%, respectively, of the equity in the private company after the deal closes.
Payments processors thrived during the COVID-19 pandemic as customers turned to digital payment methods, but some have since struggled to maintain growth as competition mounted and inflation took off.
The deal is expected to close in late 2024 or the first quarter of 2025.
Source: DD News
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