Nuvei (NASDAQ:NVEI) announced its agreement to go private through a buyout by Advent International, valued at about $6.3 billion.

Under the terms of this all-cash deal, Nuvei shareholders are set to receive $34 for each share they hold.

Advent International will acquire Nuvei with backing from significant voting shareholders, including Philip Fayer, certain funds managed by Novacap Management, and CDPQ.

Post-deal, Philip Fayer, along with Novacap and CDPQ, will hold indirect stakes of about 24%, 18%, and 12%, respectively, in the privatized entity. Fayer will remain at the helm as Chair and CEO, supported by the existing leadership, with Montreal staying as Nuvei's global headquarters.