Nuvei to Acquire Base Commerce, LLC, a Leading Provider of Integrated Payment Solutions
December 01, 2020
MONTREAL, Dec. 01, 2020 -- Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U), o 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. 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.”
We are Nuvei, the payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform offers direct connections to all major payment card schemes worldwide, supports 450 local and alternative payment methods and nearly 150 currencies. Our purpose is to make our world a local marketplace. For more information, visit www.nuvei.com.
About Base Commerce
Founded in 2008 and headquartered in Phoenix, AZ, Base is a leading provider of advanced payment processing solutions. Stakeholders in many areas of the payments ecosystem rely on Base’s comprehensive suite of technology and service offerings to ensure that payments are processed securely, promptly, efficiently, and cost-effectively.
This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include but are not limited to Nuvei and Base’s ability to satisfy all closing conditions, to close the transaction within the anticipated timeline, as well as Nuvei’s ability to integrate Base, accelerate its development timeline and increase its sales. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, you are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this press release is provided as of the date of this press release, and the Company does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.