Private equity firm Advent International is in advanced talks over a deal to acquire Nuvei, a Canadian payments technology company, according to a report by Reuters citing an unnamed source familiar with the matter.
While a deal for Nuvei, which has previously received backing from actor Ryan Reynolds, could be announced “soon”, a final agreement has yet to be reached and the talks could still fail.
Nuvei, which provides technology services to help businesses process transactions, went public in September 2020 and raised $700m in what was the largest-ever technology company offering on the Toronto Stock Exchange at the time.
The company currently has a market capitalisation of over $3bn, although both its Toronto- and Nasdaq-listed shares have fallen since the company acquired Paya Holdings for $1.3bn last year.
