Advent Said to Near Planet Investment at $2.2 Billion Valuation

Private equity firm Advent International is nearing a deal to buy a stake in digital payments provider Planet, valuing the Eurazeo SE-backed company at about 1.8 billion euros ($2.2 billion), people familiar with the matter said.

The investment from Advent could be announced as soon as this week, the people said, asking not to be identified discussing confidential information.

Advent has played a key role shaping the payments industry over the past decade, spending billions on stakes in Fifth Third Bancorp’s payment unit, Worldpay Inc., Nets A/S and a predecessor of Italy’s Nexi SpA. Consolidation in ...