Nuvei to Publish First Quarter 2024 Results on May 7, 2024

Rhea-AI Summary

Nuvei is set to release its first quarter 2024 results on May 7, 2024. The company recently entered into a definitive agreement to go private with Advent International for US$34.00 per share, valuing the company at around US$6.3 billion.

Positive

• Nuvei to publish first quarter 2024 results on May 7, 2024.
• Nuvei entered into a definitive arrangement agreement to be taken private by Advent International for US$34.00 per share.
• The transaction values Nuvei at an enterprise value of approximately US$6.3 billion.

Negative

• None.

Insights

Financial Analyst

The proposed acquisition of Nuvei by Advent International at US$34.00 per share underscores a premium against the current trading price, highlighting the appetite for established fintech firms amidst a consolidating market. An all-cash deal ensures immediate liquidity for shareholders, but it can also signal a strategic move by the acquiring firm to leverage Nuvei's technological assets and customer base. While the lack of a conference call post-results publication could restrict investor insights into quarterly performance nuances, the acquisition news is likely to overshadow operational metrics in the short term. Investors should monitor the transaction's progress and regulatory approvals, as these will ultimately determine the final outcome and timing of the payout.

Merger and Acquisition (M&A) Expert

The enterprise value of approximately US$6.3 billion in Nuvei's private buyout provides critical insight into the valuation multiples being ascribed to fintech companies with a robust payment processing platform. Comparisons with recent transactions within the sector could offer perspective on the fairness of the offer. Moreover, the definitive arrangement agreement suggests a high certainty of the transaction being completed, barring unforeseen regulatory roadblocks. The implications for stakeholders range from windfalls for current shareholders to potential strategic pivots for the company post-acquisition. Given the scale of operations and the international presence of Nuvei, this transaction may also indicate broader trends in global fintech M&A activity.

MONTREAL, April 24, 2024 /PRNewswire/ -- Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announced it will publish its first quarter 2024 results after market close on May 7, 2024.

On April 1, 2024, Nuvei announced that it entered into a definitive arrangement agreement to be taken private by Advent International for US$34.00 per share via an all cash transaction, which values the Company at an enterprise value of approximately US$6.3 billion. In light of the announced transaction, Nuvei will not host a conference call or webcast to review the first quarter 2024 financial results.

About Nuvei

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei's modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 50 markets, 150 currencies and 680 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.

For more information, visit www.nuvei.com.

Nuvei Investor Contact:

Chris Mammone, Head of Investor Relations
IR@nuvei.com 

NVEI-IR

 

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SOURCE Nuvei

FAQ

What is the date for Nuvei's first quarter 2024 results release?

Nuvei will publish its first quarter 2024 results on May 7, 2024.

Who is Nuvei entering into a definitive agreement with to go private?

Nuvei is entering into a definitive agreement with Advent International to go private.

At what price per share is Advent International acquiring Nuvei?

Advent International is acquiring Nuvei for US$34.00 per share.

What is the enterprise value of Nuvei following the transaction with Advent International?

The enterprise value of Nuvei following the transaction with Advent International is approximately US$6.3 billion.

Will Nuvei host a conference call or webcast to review its first quarter 2024 financial results?

Nuvei will not host a conference call or webcast to review its first quarter 2024 financial results in light of the announced transaction.