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An employee of a bank counts US dollar notes at a branch in Hanoi, Vietnam May 16, 2016. REUTERS/Kham Purchase Licensing Rights, opens new tabCompaniesJune 9 (Reuters) - Canadian payments firm Nuvei is in advanced talks to acquire cross-border payments company Payoneer Global (PAYO.O), opens new tab for about $2.7 billion, according to two people familiar with the matter.
The $2.7 billion purchase price includes Payoneer's cash, implying an enterprise value of about $2.3 billion, the sources said.
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Nuvei, backed by private equity firms Advent International, Novacap and Canadian investment group CDPQ, could sign a deal to acquire New York-based Payoneer in the coming days, the sources added.
The talks are ongoing and it's possible the plans could change and a deal may not materialize, said the sources, who declined to be identified while discussing confidential information.
Nuvei and CDPQ did not immediately respond to requests for comment. Payoneer and Advent declined to comment.
A deal would combine Nuvei's business of helping merchants accept payments with Payoneer's networks for sending money to suppliers, freelancers and sellers.
It would also increase Nuvei's presence in emerging markets where Payoneer has built a large customer base, and give it access to Payoneer's large online marketplace clients, including Amazon (AMZN.O), opens new tab, Walmart (WMT.O), opens new tab and eBay (EBAY.O), opens new tab.
Payment companies are increasingly seeking scale through M&A as well as exposure to faster-growing segments such as cross-border and business-to-business payments amid slower growth for traditional payment processing.
Montreal-based Nuvei provides payment processing, risk management and payout solutions to merchants globally. It has pursued growth through acquisitions since it was taken private in a roughly $6.3 billion buyout led by Advent in 2024 alongside existing investors Novacap and CDPQ.
Payoneer, which has a current market capitalization of around $1.7 billion, processes cross-border transactions for freelancers, online sellers and smaller businesses. The company generates much of its revenue from businesses in emerging markets that sell to customers in the United States and Europe.
Payoneer faced uncertainty stemming from tariffs and U.S.-China trade tensions, with customers in greater China accounting for 34% of its revenue in 2025, according to company filings.
Though revenue rose 8% to $1.05 billion last year, net income slumped 40% to $73.2 million on a decline in interest income and higher operating expenses.
Reporting by Milana Vinn in New York; Editing by Echo Wang and Edwina Gibbs
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Milana Vinn reports on technology, media, and telecom (TMT) mergers and acquisitions. Her content usually appears in the markets and deals sections of the website. Milana previously worked at GLG and PE Hub, where she spent several years covering TMT deals in private equity. She graduated from CUNY Graduate School of Journalism with Masters in Business Journalism.