US-based payments technology company Nuvei has announced it would buy SafeCharge in an all-cash deal valued at USD 889 million.
The acquisition aims to expand Nuvei’s presence in the fast-growing electronic payments industry. According to the two companies, SafeCharge shareholders would receive USD 5.55 in cash for each share held.
The deal comes as the industry is going through an aggressive consolidation and follows a USD 35 billion deal by US-based company FIS to buy Worldpay earlier in 2019. The deal also comes on the heels of market debut of payments peers – UK’s Network International, Italy’s Nexi, and UAE’s Finablr.
For more information about SafeCharge, please check out a detailed profile of this company in our dedicated, industry-specific online company database.