The payment-technology provider has entered into a definitive agreement to acquire Atlanta-based rival Paya Holdings in an all-cash transaction at US$9.75 per share. Nuvei plans to finance the acquisition with cash, an existing credit facility and a new US$600-million line of credit. (The Logic)

Talking point: In an email, Nuvei chair and CEO Philip Fayer told The Logic that the proposed acquisition would bolster the company’s role in global e-commerce, integrated payments and in the B2B space. Nuvei last acquired both Simplex, a payment provider in the cryptocurrency industry for US$250 million, and Paymentez, a Latin American payment provider for US$24.45 million, in September 2021. While overall Canadian merger and acquisition activity dropped in the latter half of 2022, some analysts predict the market will pick up in 2023 if venture capital and IPO markets remain slow. Nuvei’s acquisition looks to be the first of the year in the Canadian fintech space. The company’s shares closed up nearly three per cent on the Toronto Stock Exchange.