Canada-based fintech Nuvei has revealed its intention to evaluate several proposals that would take the company private. The move follows reports indicating advanced discussions with private equity firm Advent International regarding a potential acquisition.

Nuvei disclosed the establishment of a special committee by its board to assess various expressions of interest, including those related to a potential going-private transaction and other strategic options. The company did not divulge specific details concerning the received offers. It's worth noting that Nuvei mentioned ongoing discussions with external parties regarding a potential transaction, which could involve continued substantial ownership by certain holders of multiple voting shares, notably founder and CEO Phil Fayer.

However, Nuvei clarified that it has not formalised any agreements or understandings to execute a privatisation deal, and has yet to determine whether to pursue such an option. Reports of Advent International's discussions with Nuvei were initially surfaced by The Wall Street Journal, followed by confirmation from Reuters, citing an informed source. According to Reuters, Nuvei's shares, listed in both Toronto and New York, have experienced a decline subsequent to its acquisition of Paya Holdings for USD 1.3 billion in 2023.

In April of the same year, short seller Spruce Point revealed a short position in Nuvei, citing concerns that the acquisition was negatively impacting its operations. However, two months later, Spruce Point disclosed the closure of its short position as Nuvei's stock price had dropped to its anticipated range. What else has been going on with Nuvei? In February 2024, Nuvei announced the launch of its omnichannel payments solution for merchants and platforms, for an unified commerce.

Following this announcement, businesses and companies benefitted from flexible, scalable, and secure technologies that unify online and offline transactions in a safe and efficient manner. Nuvei’s unified commerce offering is available to customers that operate outside of North America, and it was developed to enable firms to develop new client payment experiences, with improved control and unified analytics. The proprietary solution aims to optimise the manner in which merchants and partners improve their payment capabilities across multiple variety use cases.

Businesses from several end markets (including restaurant, hospitality, customer retail, travel, or iGaming) are able to leverage Nuvei’s omnichannel technology in order to provide their users with convenient experiences at checkout, specifically personalised for each channel, where and however the client wants it or needs it. For more information about Nuvei, please check out their detailed profile in our dedicated, industry-specific Company Database. .