Israel-based credit card company Max IT Finance Ltd., formerly Leumi Card, will acquire payments firm CreditGuard from its owner SafeCharge for an estimated price of 70 million shekels, Globes reported.

The deal is subject to regulatory approval, Max said.

The company also entered into a cooperation agreement with Nuvei under which it will have access to the international payments company's clearing services in Europe and the U.S., according to the Feb. 9 report.

Private equity firm Warburg Pincus LLC acquired Leumi Card from Israeli lender Bank Leumi le-Israel BM and real estate firm Azrieli Group for 2.5 billion shekels in 2019.

As of Feb. 7, US$1 was equivalent to 3.43 Israeli shekels.