Payment technology firm Nuvei finalized its acquisition of SafeCharge International Group Limited, the firms said via statements to their corporate blogs. The value of the finalized deal is approximately $889 million. SafeCharge also requested the London AIM stock exchange to cancel its admission to trading of its shares.
SafeCharge developed the Native+ Payments Engine. The engine connects merchants to payment and risk management firms while also providing an end-to-end payments solution. Nuvei is a community of payments experts dedicated to helping merchants prevent chargebacks and other forms of eCommerce fraud.
SafeCharge’s strong presence in Europe, Asia, and Latin America will significantly increase the scope of Nuvei’s operations beyond the North American SMB market.
“This marks the dawn of a new, exciting journey for Nuvei,” Philip Fayer, Nuvei’s Chairman and CEO said in a statement. “Thanks to SafeCharge’s technology platform, we’ve enhanced our ability to deliver powerful payment solutions to our technology partners, merchants and resellers. With offices across 14 countries and unparalleled fintech expertise, we’ve transformed our combined organization into a diversified, global payments leader with massive scale and reach.”
SafeCharge CEO David Avgi also stressed the acquisition will give the combined companies access to a huge pool of human resources to draw upon to improve both processes and technologies. The ability to benefit from exciting talent, as well as to hire new talent like fraud analysts and other payments professionals, will open new possibilities.
“We are jointly creating an international payment giant with an unrivalled talent pool and technology stack,” Avgi said. “We are thrilled to be part of a bigger entity to further the adoption of the most innovative payments technology globally. The move will also provide our employees with more long-term career opportunities and be part of a global company, which we can all be very proud of.”