Nuvei Corporation, the global payment technology company, today announced it has entered into a definitive agreement to acquire Mazooma Technical Services Inc., a U.S. focused gaming and sports wagering payment technology provider for approximately $56 million up to a possible $315 million.
Mazooma is a leading account-to-account payments provider in U.S. online gaming and sports betting and is a registered vendor in 9 states, with permission in 12 states, and holds money transmitter licenses in a total of 47.
“Mazooma will enhance and expand Nuvei’s portfolio of alternative payment methods with a leading ACH platform with both pay-in and pay-out functionality, developed and used exclusively for online gaming in the U.S.,” said Philip Fayer, Nuvei’s chair and CEO.
“Because of low credit card acceptance rates, ACH is a must-have capability and solution in payments for online gaming and sports betting operators today. Additionally, this acquisition will not only give Nuvei the necessary product functionality, but also the vendor registration, compliance, and operational infrastructure to address merchant’s requirements in any regulated U.S. state. This acquisition will truly solidify our commitment to and presence in the U.S. online gaming and sports betting industry.” Fayer concluded.