Nuvei Corporation, a Canada-based payment technology network, will acquire payment technology company SafeCharge International for $889 million in cash, or $5.55 for each SafeCharge share.
SafeCharge, which is listed on the London Stock Exchange, employs some 380 people in Tel Aviv, London, Amsterdam, Hong Kong, and other branch locations.
The company specializes in online payment processing, smart payment and risk-management technologies. Its 2018 revenues were a reported $138.5 million, and its transaction turnover totaled almost $14 billion. Among the company’s international customers are Gett, El Al, WeChat Pay, the Danish National Lottery, Mazooma and Nespresso.
SafeCharge was founded in 2006 by David Avgi and Teddy Sagi. Israeli-Cypriot entrepreneur Sagi previously founded and sold the gambling software company Playtech and he owns London’s Camden Market among other London properties.