Montreal-based payment processing company Nuvei - formerly known as Pivotal Payments - has completed its acquisition of Israeli competitor SafeCharge.

The total value of the sale is CAN $1.19 billion.

“This marks the dawn of a new, exciting journey for Nuvei,” said Nuvei CEO Philip Fayer. “Thanks to SafeCharge’s technology platform, we’ve enhanced our ability to deliver powerful payment solutions to our technology partners, merchants and resellers. With offices across 14 countries and unparalleled fintech expertise, we’ve transformed our combined organization into a diversified, global payments leader with massive scale and reach.”

Nuvei is Canada’s largest private and non-bank payment processor, and backed by Novacap, the Montreal-based private equity giant. Fayer founded the company in 2003 while taking time off of his studies at Concordia University. Three years later Goldman Sachs invested $60 million in the company, fuelling several acquisitions by 2010. At this point the company had grown to 300 employees in Canada and the United States and was earning CAN $150 million in annual revenue. Along with Novacap, the Caisse de dépôt et placement du Québec is also a major investor in Nuvei.

Meanwhile, founded in 2006 by CEO David Avgi and cofounder Teddy Sagi, the publicly-traded SafeCharge is a a global payments technology company that provides omnichannel payment services, fraud prevention solutions and connection to payment methods. The company counts 340+ employees and has offices in Israel, UK, the Netherlands, Hong Kong, Italy, Austria, Cyprus, Bulgaria, Singapore and in the US.

SafeCharge held its IPO on the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange, in April 2014. The company is set to delist on Friday. Sagi will reportedly receive close to $600 million for his holding in the company.

While Nuvei has traditionally operated in the US and Canada focusing on the SMB market, SafeCharge established a solid foothold across European, Asian and Latin-American territories, servicing large scale merchants.

In gaining SafeCharge’s technology, Nuvei says it will deliver fully-supported payment solutions to clients and networks regardless of size, vertical or geography. Its platform offers direct connections to all major payment card schemes worldwide, supports over 150 currencies and 180 payment types.

“We are jointly creating an international payment giant with an unrivalled talent pool and technology stack. We are thrilled to be part of a bigger entity to further the adoption of the most innovative payments technology globally,” said SafeCharge CEO David Avgi.