AsiaVision/E+ via Getty Images
Canadian payments processor Nuvei Corp. (NASDAQ:NVEI), backed by famed entrepreneur Ryan Reynolds, is close to being acquired by private equity firm Advent International.
Advent is in advanced discussions with Nuvei (NVEI) for a deal that may be announced soon, according to a WSJ report on Saturday, which cited people familiar with the matter. It is possible that the talks could still fail.
A potential deal comes after Nuvei (NVEI) announced in April that the Canadian fintech company received an investment from Hollywood actor Reynolds. Reynolds’ investment in Nuvei came less than a month after it was revealed that T-Mobile US had agreed to buy Mint Mobile, the low-cost wireless service it partially owned, for $1.35 billion .
Shares of Nuvei (NVEI) have fallen nearly 50% over the past year and are down 83% from a high of C$170 in September 2021. Nuvei has a market capitalization of $3 billion.
Nuvei (NVEI) is scheduled to present at the 2024 Bank of America Securities Electronic Payments Symposium on Tuesday.