David Avgi, CEO of SafeCharge

Canada-based Nuvei Corporation, through its wholly-owned subsidiary Nuvei Bidco, has entered into an agreement to acquire SafeCharge International Group in an all-cash deal valued at $889 million. The acquisition aims to provide Nuvei with access to SafeCharge’s technology platform and European experience.

Philip Fayer, Chairman and Chief Executive Officer of Nuvei commented: “We are very excited about the combination of SafeCharge and Nuvei, which will create a truly global, leading, payments technology solution provider with significant scale. We think the technology platform SafeCharge has developed is exceptional and will serve as the go-forward foundation from which we will continue to grow the combined business and provide best-in-class products and services to our customers and partners. Lastly, we look forward to welcoming SafeCharge’s highly experienced management team and employees to the Nuvei family.”

Founded in 2003, Nuvei provides fully-supported payment solutions and work with ISOs, ISVs, payment facilitators, developers, and eCommerce platforms, supporting them with the technology, expertise, and customer service.

David Avgi, Chief Executive Officer of SafeCharge said: “SafeCharge is the payment technology partner for the world’s most demanding businesses. Nuvei is one of the leading providers of technology-driven payment solutions to merchants and technology and distribution partners, primarily in the United States and Canada. Both companies have built strong positions in the payment sector in their respective markets, with minimal geographic, customer or industry overlap. The acquisition should enable SafeCharge to benefit from Nuvei’s North American footprint and sales and marketing capability to fulfil and accelerate its growth ambitions.”

Established in 2007, SafeCharge International Group Limited provides global omnichannel payments services from card acquiring and issuance to payment processing and checkout and connects directly to all major payment card schemes including Visa, MasterCard, American Express and Union Pay as well as over 150 local payment methods.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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