Canada's Nuvei agrees to acquire New York-based Payoneer for $2.75 billion

Canadian payments processor Nuvei agreed to acquire New York-based Payoneer for about $2.75 billion in cash, or $7.40 a share, a deal that would combine Nuvei's payment acceptance capabilities with Payoneer's cross-border payouts, multi-currency accounts and banking network.

DEAL TERMS AND RATIONALE

The transaction, announced by the companies on 15 June, would bring together Nuvei, a Montreal-headquartered payments firm, and Payoneer, which was based in New York. The companies said the combined company would give businesses a single partner to accept, hold and move money, including stablecoin transactions, across more than 190 countries and territories.

Under the agreement, Nuvei will acquire all outstanding Payoneer shares for $7.40 each in cash, a total transaction equity value of approximately $2.75 billion. At close, the combined company is expected to generate approximately $3 billion in annual revenue and process more than $500 billion in annual payment volume for more than 2.4 million customers.

Phil Fayer, Nuvei's chairman and chief executive, called the acquisition "a defining step in Nuvei's evolution into a global financial infrastructure leader". Payoneer chief executive John Caplan said the combination with Nuvei "will extend what we can offer customers".

MARKET CONTEXT AND IMPLICATIONS

The companies said Payoneer offers same-day and real-time settlement in more than 150 markets and holds licences including for online payment services in mainland China and in-principle authorisation as a cross-border payment aggregator in India.

The boards of both companies approved the deal, and the companies said they expected the transaction to close in mid-2027, subject to Payoneer shareholder approval, regulatory approvals and other customary closing conditions.

The $7.40-a-share offer represented a premium of about 10% to Payoneer's previous closing price of $6.75.

Goldman Sachs is lead financial adviser to Nuvei and Qatalyst Partners exclusive financial adviser to Payoneer, while BMO Capital Markets, RBC Capital Markets, Barclays, UBS and Wells Fargo are providing committed financing.

Sources: Nuvei and Payoneer joint press release; Payments Dive; Bloomberg