Canadian fintech Nuvei has announced its intent to acquire cross-border payments firm Payoneer (PAYO.O) for approximately $2.75 billion in cash. The deal, disclosed on Monday, will see Nuvei purchase all shares of Payoneer for $7.40 apiece, representing a substantial premium of about 44% over Payoneer’s closing stock price on June 8. This strategic move aims to significantly expand Nuvei’s global business operations. Payoneer, a crucial player in the financial services sector, empowers businesses to send, receive, and hold funds in multiple currencies across international borders and holds regulatory licenses in major markets.
The acquisition is set to merge Nuvei’s merchant payment processing business with Payoneer’s extensive cross-border network. This combination is strategically positioned to benefit from growth in stablecoin transactions and AI-driven commerce, while also gaining access to major marketplace clients including Amazon, Walmart, eBay, and Airbnb. Following the announcement, Payoneer’s shares rose nearly 4% in early morning trading. According to LSEG data, the company has a market capitalisation of approximately $2.26 billion.
Benchmark analyst Mark Palmer commented that the deal’s “strategic logic centres on combining complementary halves of the payments stack,” with Payoneer’s broad regulatory footprint adding significant appeal. Palmer also suggested that “antitrust risk appears manageable because the businesses are largely complementary and there is no meaningful horizontal overlap likely to attract scrutiny.” The transaction is expected to finalise in mid-2027, subject to shareholder approval at Payoneer and necessary regulatory clearances. The combined entity is projected to generate around $3 billion in annual revenue and process over $500 billion in annual payment volume.
