Payoneer Global Inc. (NASDAQ:PAYO) shares advanced 3.4% in premarket trading on Monday after Nuvei revealed plans to acquire the payments platform in an all-cash transaction valued at approximately $2.75 billion.
Under the agreement, Nuvei will purchase all outstanding Payoneer shares for $7.40 per share in cash. The transaction has received unanimous approval from the boards of both companies.
Combination Creates Global Payments Powerhouse
Following completion of the deal, the combined business is expected to generate roughly $3 billion in annual revenue while processing more than $500 billion in payment volume each year across a customer base exceeding 2.4 million.
The acquisition will unite Nuvei’s payment acceptance technology with Payoneer’s strengths in cross-border payments, multi-currency account services and extensive banking infrastructure, creating a broader global financial platform.
“The acquisition of Payoneer marks a defining step in Nuvei’s evolution into a global financial infrastructure leader,” said Phil Fayer, Chairman and Chief Executive Officer of Nuvei. “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.”
Expanded Reach Across International Markets
The enlarged company is expected to support businesses in more than 190 countries and territories while offering same-day and real-time settlement capabilities in over 150 markets.
Payoneer brings a valuable portfolio of regulatory approvals and licences to the transaction, including authorization to provide online payment services in mainland China and approval in principle to operate as a cross-border payment aggregator in India.
Completion Targeted for 2027
The acquisition is expected to close in the middle of 2027, subject to shareholder approval from Payoneer investors, regulatory clearances and other customary closing requirements.
Goldman Sachs & Co. LLC is acting as lead financial adviser to Nuvei, while Qatalyst Partners is serving as Payoneer’s exclusive financial adviser.
Financing commitments for the transaction are being provided by BMO Capital Markets, RBC Capital Markets, Barclays, UBS and Wells Fargo.