Mobile Payments Today
Nuvei Corp. has agreed to buy U.K.-based payments firm SafeCharge International Group Ltd. in a cash deal valued at $889 million (669 million British pounds), according to a regulatory filing.
SafeCharge shareholders will receive $5.55 a share in cash under the agreement. The purchase price represents a 25% premium based on the SafeCharge purchase price at the end of business yesterday.
“The price premium Nuvei is offering reflects SafeCharge’s leading position in the high-growth e-commerce market, the strength of its own technology platform, its diversified and stable customer base, and the significant experience in the payments industry of SafeCharge’s payments team,” SafeCharge chairman Roger Withers said in the filing.