The FinTech landscape may be altered by go-private deals, as private equity firms and other corporates find value in the space — and where, arguably, valuations don’t reflect the potential of changes in payments processing, and especially payments acceptance.
Nuvei stands out there, as, in April, the Canadian FinTech announced a $6.3 billion deal with private equity firm Advent International after weeks of media reports that the company was in the midst of acquisition talks.
To that end, and as detailed in a Tuesday (May 14) proxy filing, Nuvei advised shareholders to vote for the go-private deal at the June 14 meeting being held for that purpose. The $34 cash consideration has been termed an “attractive premium” of as much as 56% of the company’s share price in mid-March, ahead of media reports of a deal in the works.
The agreement, per the filing, is “in the best interests of the company … and represents an increase of approximately 42%…