Nuvei to Buy Payoneer for $2.75 Billion in Cash

Fintech companies Nuvei and Payoneer announced a formal deal today under which Nuvei will acquire Payoneer for $2.75 billion in cash. Nuvei is a private Canadian company owned by the private equity firm Advent.

The agreement values Payoneer shares at $7.40 each, which is a 9.6% premium to the stock’s current price. The article notes that the stock had been lower before rising last week after Reuters reported that a transaction was in the works.

The announcement makes the acquisition official, though the source provides no further timetable or closing details. It frames the deal as a cash purchase of the fintech company at a premium to market value.