Nuvei Bidco acquires paytech SafeCharge for $889m
Nuvei Bidco, a wholly owned indirect subsidiary of payment technology network Nuvei, has agreed to acquire SafeCharge for $889 million, reports Jane Connolly.
SafeCharge, a full-service payments solutions provider, was advised by Shore Capital.
The firm’s chairman Roger Withers says the board unanimously recommended the all-cash offer.
“The price premium Nuvei is offering reflects SafeCharge’s leading position in the high growth e-commerce payments market, the strength of its own technology platform, its diversified and stable customer base and the significant experience in the payments industry of SafeCharge’s management team,” he says.
David Avgi, SafeCharge CEO, adds: “The acquisition should enable SafeCharge to benefit from Nuvei’s North American footprint and sales and marketing capability to fulfil and accelerate its growth ambitions.
“The board believes that our businesses have similar shared entrepreneurial cultures and is confident that Nuvei’s plans to invest in and grow the SafeCharge business mean the proposed transaction is positive for SafeCharge and its stakeholders as a whole.”
SafeCharge developed the Native+ Payments Engine. It is a UK-based company with offices in Guernsey, London, China, Italy, Austria, Bulgaria, Israel, Hong Kong, Singapore, Amsterdam, New York and Cyprus.
