Nuvei completes $889m SafeCharge deal
Nuvei has completed its acquisition of full-service payments solutions provider SafeCharge for $889 million, reports Jane Connolly.
With the deal, the global payment solutions company moves beyond its US and Canada SME market to take on SafeCharge’s established foothold in the European, Asian and Latin-American territories.
The combined organisation’s headquarters will be in Montreal, where Nuvei is based.
“This marks the dawn of a new, exciting journey for Nuvei,” says Philip Fayer, chairman and CEO of Nuvei. “Thanks to SafeCharge’s technology platform, we’ve enhanced our ability to deliver powerful payment solutions to our technology partners, merchants and resellers. With offices across 14 countries and unparalleled fintech expertise, we’ve transformed our combined organisation into a diversified, global payments leader with massive scale and reach.”
SafeCharge’s proprietary platform supports over 150 currencies and 180 payment types, offering direct connections to all major payment card schemes worldwide.
“We are jointly creating an international payment giant with an unrivalled talent pool and technology stack,” says David Avgi, CEO of SafeCharge. “We are thrilled to be part of a bigger entity to further the adoption of the most innovative payments technology globally. The move will also provide our employees with more long-term career opportunities and be part of a global company, which we can all be very proud of.”
SafeCharge has made an application to the AIM stock exchange in London for the cancellation of the admission to trading of SafeCharge shares on AIM, expected to take effect on 2 August 2019.
