Nuvei Bidco, a wholly owned indirect subsidiary of Canadian paytech network Nuvei, as per recent reports, has announced to acquire SafeCharge, a global paytech solutions provider that specializes in omnichannel payment services, fraud prevention solutions, and connection to payment methods, for an $889 million all-cash offer. Reports are that SafeCharge was the choice advised by Shore Capital.
According to SafeCharge’s Non-Executive Chairman, Roger Withers, the all-cash offer was the board’s unanimous decision.
“The price premium Nuvei is offering reflects SafeCharge’s leading position in the high growth e-commerce payments 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 management team,” Roger says.
Also speaking on this, David Avgi, CEO, SafeCharge, says, “The acquisition should enable SafeCharge to benefit from Nuvei’s North American footprint and sales and marketing capability to fulfill and accelerate its growth ambitions. The board believes that our businesses have similar shared entrepreneurial cultures and is confident that Nuvei’s plans to invest in and grow the SafeCharge business mean the proposed transaction is positive for SafeCharge and its stakeholders as a whole.”
The UK-based SafeCharge is renowned as the developer of the Native+ Payments Engine and has current offices in Guernsey, London, China, Italy, Austria, Bulgaria, Israel, Hong Kong, Singapore, Amsterdam, New York, and Cyprus.