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NUVEI ANNOUNCES COMPLETION OF GOING PRIVATE TRANSACTION

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MONTREAL, Nov. 15, 2024 /CNW/ — Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI)(TSX: NVEI), the Canadian fintech company, announced today the completion of the previously announced plan of arrangement under the Canada Business Corporations Act (the “Plan of Arrangement”) pursuant to which Neon Maple Purchaser Inc. (the “Purchaser”), an entity formed by Advent International (“Advent”), acquired, directly or indirectly, all the issued and outstanding subordinate voting shares (the “Subordinate Voting Shares”) and multiple voting shares (the “Multiple Voting Shares” and together with the Subordinate Voting Shares, the “Shares”) of the Company for a price of US$34.00 per Share (the “Arrangement”).

As part of the Arrangement, Philip Fayer, certain investment funds managed by Novacap Management Inc. (collectively, “Novacap”) and Caisse de dépôt et placement du Québec (“CDPQ”) (together with entities they control directly or indirectly, collectively, the “Rollover Shareholders”) sold their Shares (the “Rollover Shares”) in exchange for a combination of cash and shares in the capital of the Purchaser or an affiliate thereof, in accordance with the terms of the Plan of Arrangement and the applicable rollover agreement entered into with each Rollover Shareholder in connection with the Arrangement. As a result of the Arrangement, the Company became a wholly-owned subsidiary of the Purchaser, of which Advent, Philip Fayer, Novacap and CDPQ hold or exercise control or direction over, directly or indirectly, approximately 46%, 24%, 18% and 12%, respectively.

Nuvei Founder & CEO Philip Fayer rolled approximately 95% of his Shares and will continue to be one of the largest shareholders in the Company. He will also continue to serve as Nuvei’s Chair and Chief Executive Officer, leading the business in all aspects of its operations, along with Nuvei’s current leadership team who have continued in their roles.

“We are excited to embark on a new chapter with Advent, Novacap and CDPQ, one focused on our long-term strategy and commitment to accelerating the revenue of our customers globally,” said Fayer. “For more than 20 years we have provided customers with mission-critical solutions they need to execute on their growth journeys. This commitment will remain the same as we continue to build deeper partnerships with our customers by providing them modern, flexible and purpose-built technology. A key part of this next phase will be the implementation of our Value Creation Plan, a comprehensive strategic exercise designed to optimize our operations as we execute on various opportunities for accelerated growth. Advent joins our long-standing investors, Novacap and CDPQ, who remain meaningful investors and believe in a dynamic and successful future for Nuvei,” concluded Fayer.

“Since 2017, we have been privileged to support Nuvei’s management in executing its ambitious global growth strategy. Together with a leadership team that continually drives innovation and builds meaningful partnerships across industries, Nuvei has established itself as a fintech leader in key verticals with sustainable, long-term growth potential. As the Company embarks on an exciting new chapter of expansion, we look forward to strengthening our collaboration and unlocking new opportunities to create lasting value for all stakeholders,” said David Lewin, Lead Senior Partner at Novacap.

“Ever since our first investment in Nuvei in 2017, CDPQ is proud to have supported this Québec fintech leader at every stage of its growth, particularly through acquisitions on a global scale. We are delighted to accompany Nuvei once again as it embarks on this new chapter of its history, alongside recognized partners such as Advent, as well as existing shareholders Philip Fayer and Novacap,” said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ.

Bo Huang, Managing Director at Advent, said: “We are excited to begin this partnership and support Nuvei’s growth through investments and acquisitions to best serve its customers globally as a modern payments partner.”

Consideration for the Shares has been remitted by or on behalf of the Purchaser to TSX Trust Company as depositary under the Arrangement, and will be paid to former shareholders of the Company as soon as reasonably practicable after the date hereof (or, in the case of registered shareholders, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the share certificate(s) and/or DRS Advice(s) representing Shares formerly held by them).

As a result of the completion of the Arrangement, it is expected that the Subordinate Voting Shares will be de-listed from the Toronto Stock Exchange on or about November 18, 2024 and from the Nasdaq Global Select Market on or about November 25, 2024. The Company has applied to cease to be a reporting issuer under Canadian securities laws in all Canadian jurisdictions. The Company will also deregister the Subordinate Voting Shares under the U.S. Securities Exchange Act of 1934, as amended.

Early Warning Reporting

Further to the requirements of National Instrument 62-104 Take-Over Bids and Issuer Bids and National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, the Purchaser or an affiliate thereof and Philip Fayer and certain entities controlled by Philip Fayer will file an early warning report in accordance with applicable securities laws. A copy of each of the early warning reports will be made available under Nuvei’s profile on SEDAR+ at www.sedarplus.ca.

Immediately prior to closing of the Arrangement and the related transactions, AI Maple Aggregator, L.P. (“Maple Aggregator”), an entity formed by Advent with an indirect interest in the Purchaser, did not own, or exercise control or direction over, directly or indirectly, any Shares. Upon the completion of the Arrangement, Maple Aggregator, through its indirect interest in the Purchaser, controls 46% of the 66,096,274 Subordinate Voting Shares and 76,064,619 Multiple Voting Shares issued and outstanding in the capital of the Company. The consideration paid by the Purchaser for the Shares (excluding any Rollover Shares exchanged for shares in the capital of the Purchaser or an affiliate thereof) was US$34.00 per Share (equivalent to C$47.69). The Rollover Shares exchanged for shares in the capital of the Purchaser or an affiliate thereof had an implied value of US$34.00 (equivalent to C$47.69). All figures in this press release have been calculated using a US$:C$ exchange rate of 1.4027, being the daily US$:C$ exchange rate published by the Bank of Canada for November 14, 2024.

Immediately prior to closing of the Arrangement and the related transactions, Philip Fayer and certain entities controlled by Philip Fayer beneficially owned and controlled 27,857,328 Multiple Voting Shares (representing 36.62% of the issued and outstanding Multiple Voting Shares) and 124,986 Subordinate Voting Shares (representing 0.2% of the issued and outstanding Subordinate Voting Shares). In connection with the Arrangement, Philip Fayer and such entities sold their Shares directly or indirectly to the Purchaser at an implied value of US$34.00 per Share (equivalent to C$47.69) for aggregate cash proceeds of US$75,096,573 and common shares of the Purchaser or an affiliate thereof at an aggregate implied value of US$876,302,102. Following completion of the Arrangement, Philip Fayer and an entity controlled by him became shareholders of the Purchaser’s indirect parent company and no longer beneficially own or control any Shares. Mr. Fayer now indirectly owns or controls approximately 24% of the equity in the resulting private company. Further information and a copy of the early warning report of Philip Fayer may be obtained by contacting:

Chris Mammone
Head of Investor Relations
Nuvei Corporation
IR@nuvei.com
310.654.4212

About Nuvei

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 50 markets, 150 currencies and 720 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “Forward-looking information”) within the meaning of applicable securities laws. This Forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all Forward-looking information contains these terms and phrases. Particularly, statements with respect to the delisting of the Subordinate Voting Shares from the Toronto Stock Exchange and from the Nasdaq Global Select Market, the Company ceasing to be a reporting issuer under applicable Canadian securities laws and the deregistration of the Subordinate Voting Shares under the U.S. Securities Exchange Act of 1934, as amended, are Forward-looking information.

In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain Forward-looking information. Statements containing Forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances.

Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management, and although the Forward-looking information contained herein is based upon what management believes are reasonable assumptions, readers are cautioned against placing undue reliance on this information since actual results may vary from the Forward-looking information.

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, the possibility that the Subordinate Voting Shares will not be delisted from the Toronto Stock Exchange or the Nasdaq Global Select Market within the timing currently contemplated, that the Subordinate Voting Shares may not be delisted at all, due to failure to satisfy, in a timely manner or otherwise, conditions necessary for the delisting of the Subordinate Voting Shares or for other reasons, and that the Company’s application to cease to be a reporting issuer under applicable Canadian securities laws may not be accepted or may be delayed.

Consequently, all of the Forward-looking information contained herein is qualified by the foregoing cautionary statements. Unless otherwise noted or the context otherwise indicates, the Forward-looking information contained herein represents the Company’s expectations as of the date hereof or as of the date it is otherwise stated to be made, as applicable, and is subject to change after such date. However, the Company disclaims any intention or obligation or undertaking 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.

For further information please contact:

Investors

Chris Mammone, Head of Investor Relations
IR@nuvei.com

Media

alex.hammond@nuvei.com 

NVEI-IR

 

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SOURCE Nuvei

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Western Sydney International Airport Opens After Bechtel-Led Delivery Program Completes Major Construction Works Seven Months Early

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November 11, 2026

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Australia’s first major greenfield international airport in more than 50 years delivered ahead of schedule: a role model for future infrastructure delivery in Australia

SYDNEY, Nov. 11, 2026 /PRNewswire/ — Western Sydney International (Nancy-Bird Walton) Airport (WSI) opened to passengers on October 25, 2026, following a design, construction, and commissioning program led by Western Sydney Airport Corporation with Bechtel Australia as Delivery Partner that finished months ahead of schedule. The opening marks a new era of aviation, trade, and economic activity for Western Sydney and Australia.

Jetstar operated the airport’s first commercial passenger service, flying from WSI to the Gold Coast. Passenger operations follow the start of freight services in July and cap 15 years of planning, seven years of construction, and a year of testing and operational readiness.

A Delivery Model Built for Complexity

“I offer my warm congratulations to our partner, Western Sydney Airport Corporation, our contractors, and all the colleagues and partners who have come together to make this project such a success,” said Darren Mort President of Infrastructure and Executive Director at Bechtel. “WSI shows what the integrated model can achieve when a customer, delivery partner, and contractors work as one team around a clear vision. Together, we transformed a 1,780-hectare greenfield site into a modern international airport, months ahead of schedule.”

Key project achievements include:

Completing major construction works almost seven months ahead of schedule.More than 21 million work hours, most of them in high-risk construction, completed with strong safety performance and supported by more than 42,000 proactive safety activities.Delivering Australia’s largest earthworks program, moving approximately 28 million cubic metres of material across the site.Reusing nearly 6 million tonnes of sandstone from Sydney tunnelling projects, diverting material from landfill.Installing a 4.5-megawatt solar system that will offset more than 4,000 tonnes of carbon dioxide each year, alongside all-electric heating, rainwater harvesting, and electric-vehicle infrastructure.Integrating more than 60 software platforms supporting airport operations, including passenger processing, security, retail, and office systems.Exceeding sustainability targets on all construction packages, each receiving a 4- or 5-Star rating.

Since 2018, Bechtel has served as Delivery Partner to Western Sydney Airport Corporation, the company responsible for building and operating WSI. Under this model, Bechtel:

Worked as an integrated partner of the customer’s team.Helped set the program’s scope, cost, and schedule baseline.Procured and managed contractors across the earthworks, terminal, runway, landside, and technology packages, and managed the interfaces between them.Controlled the program budget, keeping every package moving toward the same completion date that resulted in finishing months early and within budget.

Innovation from the Ground Up

The program combined large-scale engineering with new approaches to sustainability and technology. It delivered Australia’s largest earthworks program and reused nearly 6 million tonnes of sandstone from Sydney tunnelling projects that would otherwise have gone to landfill. More than 60 software platforms were integrated into one operating environment covering passenger processing, security, retail, and office systems. A 4.5-megawatt solar system, all-electric heating, and rainwater harvesting are built into the airport. And the new terminal includes extensive innovative elements, from the integrated domestic/international check-in area, a state-of-the art baggage system, and departure/arrival gates able to be used for both domestic and international flights.

The airport is designed to initially serve up to 10 million passengers a year, with capacity to expand as demand grows. It has already helped catalyze AU$19 billion in surrounding infrastructure investment and is projected to contribute AU$23.9 billion to Australia’s gross domestic product by 2060.

Building on Bechtel’s Commitment to Australia

“Today marks years of hard work, collaboration, and commitment from thousands of people, including more than 330 Bechtel colleagues across design, engineering, procurement, and project delivery,” said Richard Freer, Managing Director of Bechtel’s Public Infrastructure Business in Australia. “Excellent project set up, led by the Federal Infrastructure Department, strong front-end planning, disciplined project controls, and new ways of integrating complex systems kept multiple contractors and interconnected packages moving towards the same completion date. That’s how we finished ahead of the schedule set back in 2018. Just as important, more than half of the workforce came from Western Sydney, so this airport was built by the community it now serves.”

Bechtel has been serving Australian communities and customers for more than 70 years with projects spanning airports, rail, mines, mineral processing facilities, LNG installations, refineries, chemical plants, power stations, and telecommunications infrastructure. At peak construction on WSI, the project team brought together around 4,000 people; across the full construction period, more than 11,000 people worked on the project, with more than half drawn from Western Sydney. The program also engaged more than 360 local businesses and exceeded its workforce participation targets for local, diverse, First Nations and learner workers.

WSI is Australia’s new 24-hour global gateway, providing domestic, international, and freight services, supporting Western Sydney’s long-term growth and Australia’s future aviation capacity.

About Bechtel 

Bechtel is a trusted engineering, construction, procurement, and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world’s infrastructure, increased access to energy, resources and vital services, and made the world a safer, cleaner place. 

Bechtel serves the Energy; Infrastructure; Manufacturing & Technology; Mining & Metals; and Nuclear, Security & Environmental markets. Our services span from initial planning and investment through start-up and operations. 

Media Contact: Molly Edwards, medwards@bechtel.com

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SOURCE Bechtel

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cynapse.ai Wins Agentic AI Innovation Award at AINext Awards 2026

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November 11, 2026

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ARLINGTON, Va., Nov. 11, 2026 /PRNewswire/ — cynapse.ai has been named the winner of the Agentic AI Innovation Award in the Excellence in AI & Technology Industry category at the AINext Awards 2026, presented by Next Business Media. The award recognizes organizations and leaders demonstrating innovation, talent, and impact across the AI and technology industries.

For most organizations, video has long been a record of what has already happened. Only around 1% of recorded footage is typically reviewed, so risks, threats, and operational insights stay buried until someone goes looking for them. At the core of cynapse.ai’s award-winning innovation is its Agentic Video Intelligence platform, in which AI goes beyond detecting events to contextual understanding of scenes, applying reasoning, and using AI agents to enable complex actions. Powered by cyNeuron, cynapse.ai’s agentic framework combines Vision AI with domain-specific Vision Language Models (VLMs) and custom AI agents, turning existing camera networks from a passive record into a source of real-time and offline operational intelligence.

The cynapse Copilot lets operators search footage, get insights, and generate summaries and reports, all in natural language. Most significantly, teams are no longer limited to predefined use cases. They can create their own events of interest simply by describing them, such as “alert when a delivery truck causes traffic obstruction at office building A drop-off point during working hours” and the platform starts detecting them right away.

“We’re honored to receive this recognition. In today’s complex world, mission-critical operations must unlock the full potential of their video data, whether to strengthen security, improve safety, boost operational efficiency, ensure compliance, or all of the above,” said Guy Ron, Founder and CEO of cynapse.ai. “Physical AI is bringing intelligence into the real world, and Agentic Video Intelligence is how mission-critical operations put it to work. Our innovation not only brings critical information buried in video footage to the surface but also lets operators interact directly with the system to get the answers they need, when they need them, enabling better-informed decisions and faster responses.”

The impact extends across industries where operation is mission critical. Security teams can respond to threats as they unfold, data center operators can detect threats early across every ring of the facility, transportation agencies can identify incidents and violations in real time, and port operators can strengthen safety and compliance.

cynapse.ai delivers this through industry-specific solutions: cySecurity, cyDataCenter, cyRoad and cyPort. As a software-only platform, it runs on existing cameras, in the cloud or on-premises, with no need to replace existing infrastructure.

About cynapse.ai

cynapse.ai is a leading provider of Verticalized Agentic AI Video Intelligence solutions, enabling organizations to enhance safety, security, compliance and operational efficiency. The cynapse.ai solutions are designed to detect and respond to risks, threats, and violations while uncovering opportunities across transportation networks, seaports and data centers. Offering human-like video understanding through cyNeuron and 150+ field-proven, predefined analytics, and turning it into everyday value through AI agents and an intuitive copilot, cynapse.ai is making video intelligence more powerful and accessible than ever before. www.cynapse.ai

View original content:https://www.prnewswire.com/apac/news-releases/cynapseai-wins-agentic-ai-innovation-award-at-ainext-awards-2026-302934415.html

SOURCE cynapse.ai

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NIDS Co., Ltd. Expands ‘Airvom’ Supply to High-Traffic Facilities, Strengthening Its Air Quality Management Solutions Business

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November 11, 2026

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Company leverages in-house precision sensors and plasma modules to target hospitals, schools, and welfare facilities in B2G and B2B markets

SEOUL, South Korea, Nov. 10, 2026 /PRNewswire/ — NIDS Co., Ltd. is expanding its air quality management business for high-traffic public facilities with Airvom, its in-house air purification and sterilization brand. The company plans to broaden its public- and private-sector supply network, targeting hospitals, nursing homes, schools, welfare facilities, and subway stations.

According to NIDS, Airvom is an air care product that combines a precision sensor that detects indoor air conditions with a plasma module. The company explained that the system links purification and sterilization functions to the air quality data measured by the sensor, applying its environmental measurement component technology to air quality management in real spaces.

The core of what NIDS is presenting to the high-traffic facility market is the link between measurement and operation. Built on a structure that identifies air conditions in real time and reflects them in how the product operates, the company aims to address air quality management needs within facilities. The company said it applied plasma technology targeting airborne viruses and harmful bacteria in addition to its purification function.

Airvom uses dielectric barrier discharge (DBD) low-temperature plasma technology. NIDS said the product combines its independently developed plasma radical technology with its sensing technology. The company cites owning both the sensor and the sterilization module as proprietary technology as a key competitive strength in product development and operation.

This structure of directly handling core components also ties into how the company develops finished products. NIDS explained that it can control sensor sensitivity and tune operating algorithms to suit the system. It plans to use this tuning capability when linking the sensor and plasma module, developing products in a direction that improves performance and quality stability.

The product line is organized by usage space, ranging from vehicle and personal models to residential and office units and models for hospitals and high-traffic facilities. Among these, the company identified hospitals, nursing homes, schools, welfare facilities, and subway stations as targets for future supply expansion. NIDS plans to establish Airvom in the market through B2G and B2B business aimed at facilities.

Airvom’s business offering also includes S+Link, an Internet of Things (IoT) platform for real-time air quality management. NIDS presents a solution that connects sensors, finished products, and the platform to monitor and manage air conditions. The company aims to extend its business scope beyond supplying individual devices to the management domain that makes use of air quality data.

The foundation of the Airvom business is NIDS’s experience in environmental sensor manufacturing and plasma module development. Founded in 2000, NIDS has designed and mass-produced particulate matter sensors, optical gas sensors, and composite environmental sensor modules in-house. The company has also been developing and supplying plasma ionizers for odor removal in domestic automotive air conditioners since 2000, a technology that was developed to eliminate bacteria and viruses. By applying its experience developing core air-measurement components to finished air purification and sterilization products, the company is pursuing its own-brand business.

This represents a move to secure customer touchpoints distinct from its sensor component supply. While the component business primarily targets home appliance, automotive, and HVAC companies, Airvom seeks supply opportunities with public institutions and facility operators that run actual spaces. The company plans to operate the sensor supply business and the Airvom business as two pillars and expand its presence in the finished-product market.

NIDS is also exploring the potential for supplying its air quality management solutions overseas. It plans to contact buyers and identify local partnership opportunities through its existing overseas branch network in the United States, Japan, and China. Alongside expanding supply to domestic high-traffic facilities, the company intends to pursue overseas sales channels in parallel.

Going forward, NIDS will promote the product competitiveness of its combined sensor and plasma technologies and continue supply discussions with public and private facilities. Its goal is to extend its in-house component technology into a finished air care product business and secure a market foundation for Airvom.

The company is also preparing to build a business foundation for its entry into the U.S. market through exchanges with Yale University and Johns Hopkins University.

“Airvom will expand its supply network centered on high-traffic facilities such as hospitals, nursing homes, schools, welfare facilities, and subway stations (B2G/B2B),” a NIDS representative said.

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SOURCE NIDS Co., Ltd.

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