Advent International has agreed to buy Canadian payments processor Nuvei Corp. (Nasdaq: NVEI) for $6.3 billion, including debt, in a further sign that confidence is returning among private equity dealmakers.

Speakers at the Canada FinTech Forum

The buyout firm agreed to pay $34 per share in cash for Nuvei, according to a statement.

“This transaction marks the beginning of an exciting new chapter for Nuvei, and we are glad to partner with Advent to continue to deliver for our customers and employees and capitalize on the significant opportunities that this investment provides,” Philip Fayer, Nuvei’s chief executive officer, said in a statement. 

Backed by Canadian actor Ryan Reynolds, Nuvei provides pay-in and pay-out services and partners with brands including Virgin Atlantic Airways Ltd., fashion retailer Shein Group Ltd. and sports betting firms DraftKings Inc. (Nasdaq: DKNG) and BetMGM, according to its website. 

The value of private equity buyouts targeting companies in North America is up almost 7 percent this year to about $44 billion, data compiled by Bloomberg show. That compares with an increase of 38 percent for broader M&A targeting the region.