Nuvei Acquires Mazooma to Expand Payment Options in North America
Nuvei, a firm specializing in payment technologies, has acquired Mazooma Technology Services, a business focused on payment solutions for the US gaming and sports wagering sectors.
Nuvei acquired Mazooma in April for $56 million, but the purchase price could escalate to $315 million if Mazooma performs exceptionally well over the next three years.
Nuvei asserts that the acquisition of Mazooma will empower them to provide a wider range of payment options in North America, encompassing swift bank-to-bank transfers and real-time payments for rapid withdrawals.
Mazooma has primarily catered to online gaming and sports betting in the US, but Nuvei declares that they will now extend this payment method to enterprises across all industries.
Mazooma is registered in nine US states, licensed in 12 states, and holds money transmission licenses and exemptions in 47 states.