NVEI:CC - Nuvei stock opened 25% up on Monday: find out more

2024-03-18 11:15:02 ET

Nuvei Corp (TSE: NVEI) opened about 25% up on Monday following news that Advent International is close to acquiring the payments processor for an undisclosed amount.

How much is Advent paying for Nuvei stock?

Note that actor/investor Ryan Renolds have a stake in the financial technology company that is currently worth more than $5.0 billion.

Prospect that the ongoing talks between Advent an Nuvei end up falling apart remains on the table, as per sources that talked to the Wall Street Journal today on condition of anonymity.

Neither Nuvei nor Advent International has commented on the report on Monday.

The news arrives only days after reported $14.1 million in earnings for its fiscal fourth quarter – up from $9.4 million last year. Nuvei stock is still down 40% versus its 52-week high.

Nuvei counts Microsoft and GM as customers

If Nuvei and Advent do indeed end up announcing an agreement, it will be the second one for a Ryan Renolds-backed company over the past 12 months.

Owner of Mint Mobile – his budget wireless provider was bought by T-Mobile for $1.35 billion in March of 2023.

raised $700 million as it went public in the third quarter of 2020 that made it the largest tech offering on Toronto Stock Exchange ever.

Among customers of the payments processor that has a footprint in about 200 markets worldwide are notable names like Microsoft, General Motors, and the recently in news Shein. Wall Street currently has a consensus “buy” rating on Nuvei shares.

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