Nuvei, a global payment technology provider based in Canada, announced on Wednesday it has acquired Base Commerce, LLC, a provider of integrated payment solutions. According to Nuvei, Base was founded in 2008 and serves clients in a wide range of industries such as property management, consumer financial 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.
Philip Fayer, Nuvei’s Chairman and CEO, shared more details about the acquisition by stating:
“We are thrilled to announce our agreement to acquire Base Commerce, a leading payment solutions provider with a merchant-first philosophy that matches our own. This acquisition will significantly expand our product capabilities with a proprietary ACH processing platform as well as further build and diversify our acquiring portfolio, adding high margin verticals.”
Founded in 2003, Nuvei provides fully-supported payment solutions designed to promote and advance its partners’ success.
“We work with ISOs, ISVs, payment facilitators, developers, and eCommerce platforms, supporting them with the technology, expertise, and customer service they need to stand out. Backed by our full-service, globally connected platform, our vision is to build a network in which our partners can truly thrive. Our goal is to create bigger and better payment opportunities for all, paving the way to great partnerships.”
The company previously raised $270 million in common equity financing. The Base transaction is expected to close on or about December 31, 2020, subject to customary closing conditions. The acquisition amount has not been disclosed.