Canadian fintech company Nuvei has agreed to buy US cross-border payments provider Payoneer in an all-cash transaction worth nearly $2.75bn.
Under the terms of the agreement, Nuvei will acquire all Payoneer shares for $7.40 each, which represents a premium of about 44% to the company’s closing share price on 8 June.
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Payoneer provides services that enable businesses to send, receive and hold funds in multiple currencies across international markets. It also has regulatory licences and approvals in major jurisdictions.
The acquisition will combine Nuvei’s merchant payment processing operations with Payoneer’s cross-border payments network.
In a joint press release, the companies said the combined business would allow firms to use one partner to accept, hold and move money, including stablecoin transactions, across more than 190 countries and territories.
They said the enlarged group would be positioned to benefit from growth in stablecoin transactions and AI-driven commerce, while also gaining access to large marketplace clients such as Amazon, Walmart, eBay and Airbnb.
The combined business is expected to generate around $3bn in annual revenue and process more than $500bn in annual payment volume.
The boards of directors of both Nuvei and Payoneer have approved the transaction.
The deal is expected to close in mid-2027, subject to approval by Payoneer shareholders, regulatory clearances and other customary closing conditions.
Nuvei chairman and CEO Phil Fayer said: “The acquisition of Payoneer marks a defining step in Nuvei’s evolution into a global financial infrastructure leader.
“By combining complementary capabilities, we can offer businesses a more complete platform to accept payments, send funds, issue cards, manage treasury and FX needs, and access embedded financial services – at scale.”
“For two decades, Payoneer has earned the trust of millions of businesses in markets where trust takes years to build,” said John Caplan, CEO of Payoneer.
“We have transformed our business with extraordinary results, and our combination with Nuvei will extend what we can offer customers. Together, we will reach more businesses, in more markets, with a more complete platform.”
