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Montréal-based Nuvei Corporation is set for a major shift, entering an agreement with American private equity firm Advent International for a buyout that will privatize the company. Valued at USD $6.3 billion, this deal represents a growing trend of Canadian tech firms transitioning from public to private entities.
Advent’s offer of $34 per share is a significant premium over Nuvei’s recent Nasdaq closing price. Pending approvals, the transaction is slated for late 2024 or early 2025. Nuvei’s CEO Philip Fayer will continue to lead, maintaining its Montréal headquarters. This transition, fueled by Advent’s FinTech expertise, marks a new chapter for Nuvei in the global payments sector.
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