Nuvei to acquire Base Commerce
Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands, today announced it has entered into a purchase agreement to acquire substantially all of the assets of Base Commerce, LLC (“Base”), a leading provider of integrated payment solutions.
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The transaction is expected to close on or about December 31, 2020, subject to customary closing conditions.
Founded in 2008, Base is a technology-driven payment processing company specializing in bankcard and ACH payment processing solutions. Base serves clients in a wide range of industries, including property management, consumer finance and collections, tolling, parking and transportation, and charitable giving. In addition to providing revenue opportunities, this acquisition expands Nuvei’s product capabilities, diversifies its acquiring portfolio, enhances sponsor bank coverage, and enlarges its distribution network. Base processes approximately $8 billion in ACH volume and more than $2 billion of credit card acquiring volume on an annual basis.
“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,” said Philip Fayer, Nuvei’s chairman and CEO. “We are excited for the Base team to join us on our mission to make our world a local marketplace.”