Nuvei closes acquisition of Base Commerce
Payment technology services provider Nuvei Corp (TSE:NVEI) today announces the completion of the acquisition of substantially all of the assets of Base Commerce, LLC, a provider of integrated payment solutions.
The acquisition expands Nuvei’s product capabilities with a proprietary ACH processing platform, further diversifies its acquiring portfolio, enhances sponsor bank coverage, and enlarges the company’s distribution network.
As FX News Group has reported, the deal was first announced early in December 2020.
Base, which was founded in 2008, is a technology-driven payment processing company specializing in bankcard and ACH payment processing solutions. The company serves clients in a wide range of industries, including property management, consumer finance and collections, tolling, parking and transportation, and charitable giving. Base processes approximately $8 billion in ACH volume and more than $2 billion of credit card acquiring volume on an annual basis.
The acquisition of Base marks yet another interesting M&A move by Nuvei, which has been rather active on this front lately. Let’s recall that Nuvei completed the acquisition of Smart2Pay Global Services B.V. in November 2020.