Nuvei Acquires US Payments Firm Mazooma for $56 Million

Nuvei Corporation has reached an agreement to acquire Mazooma Technical Services, a US-based payments firm specializing in the gaming and sports betting industries.

The transaction is valued at $56 million initially, with the potential to reach $315 million if specific targets are achieved within a three-year timeframe.

Approximately 24% of the payment will be made using Nuvei stock, while the remaining portion will be paid in cash.

The deal requires approval from the Toronto Stock Exchange and other customary conditions, and is anticipated to be completed in the second quarter of the current year.

Mazooma holds registered supplier status in nine US states, is licensed in 12 states, and possesses money transfer licenses and exemptions in 47 states.

Further details can be found on the iGB North America website.

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