- Payment technology company Nuvei (NVEI) has completed its acquisition of Smart2Pay Global Services BV
- Smart2Pay is a Dutch company which provide merchants, marketplaces, banks, and PSPs with over 200 smart web payment solutions
- Nuvei has been working to finalise this acquisition since before its record-breaking IPO on the TSX in September
- The transaction makes the company one of the world’s largest and most complete providers of alternative payment method solutions
- Nuvei (NVEI) is up 6.05 per cent and is currently trading for C$54.68 per share
Payment technology company, Nuvei (NVEI) has announced the completed acquisition of Smart2Pay Global Services BV.
Otherwise known as Coöperatieve Vereniging Smart2Pay Global Services UA, Smart2Pay is a Dutch smart web payments company. The business provides merchants, marketplaces, banks, and PSPs (payment service providers) all over the world with over 200 web payment methods.
Nuvei has been working for some time to finalise the acquisition of Smart2Pay, as part of its plan to develop both organically and through acquisitions. The company was still in the process of completing the transaction at least a month before its record-breaking IPO on the TSX in September.
RBC Capital Markets advised Nuvei on the transaction, while FT Partners advised Smart2Pay.
Nuvei has not yet disclosed how much the company paid for the acquisition of Smart2Pay.
However, the company reportedly paid somewhere around US$872.5 million (approximately C$1.14 billion) for the previous acquisition of SafeCharge International Group some time last year. At the time, the acquisition of the LSE-listed payment service provider nearly doubled Nuvei in size.
With the acquisition of Smart2Pay now complete, Nuvei now offers 450 alternative payment methods (APMs) to online merchants in over 200 global markets. As such, the company is now one of the world’s largest and most complete providers of APM solutions.
In addition, the transaction strengthens the company’s presence in high-growth digital commerce verticals, and further expands its geographic footprint in additional regions.
Nuvei (NVEI) is up 6.05 per cent and is trading for $54.68 per share, as of 11:35am EST.
