Canadian payments processor Nuvei is reportedly in advanced talks to acquire Payoneer Global in a transaction valued at about $2.7bn.
The purchase price includes Payoneer’s cash, implying an enterprise value of roughly $2.3bn, Reuters reported, citing two people familiar with the matter.
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A deal could be signed in the coming days.
The discussions are currently underway, and the terms could still change, the sources told the news agency, adding that a deal may not materialise.
Electronic Payments International has contacted Nuvei and Payoneer for comment on the reported discussions.
Founded in 2005, Payoneer operates a platform that enables businesses and freelancers to make and receive cross-border payments.
According to the company’s website, it supports transactions in more than 150 currencies and offers native language support across 17 languages.
Payoneer has a market capitalisation of around $1.7bn.
The company reported an 8% increase in revenue to $1.05bn last year. However, net income fell 40% to $73.2m, which it attributed to lower interest income and higher operating expenses.
If completed, the deal would bring together Nuvei’s merchant payments services with Payoneer’s fund transfer network.
Reuters said the tie-up could also expand Nuvei’s reach in emerging markets and provide access to Payoneer’s large online marketplace clients, including Amazon, Walmart and eBay.
Montreal-based Nuvei provides payment processing, risk management and payout services to merchants globally.
The company has used acquisitions as a growth strategy since it was taken private in a roughly $6.3bn buyout led by Advent in 2024, alongside existing investors Novacap and CDPQ.
Earlier this year, Nuvei partnered with FreedomPay to provide enterprise merchants with a unified payments solution.
