Acquisition advances Evertec’s growth strategy and further expands Evertec’s product offering in Brazil
EVERTEC, Inc. (“Evertec”, the “Company”, “we” or “our”) announced it has entered into a definitive agreement to acquire a controlling stake in Tecnobank Tecnologia Bancária S.A. (“Tecnobank”), a leading fintech vendor in Brazil’s digital vehicle financing contract registration sector, through its wholly-owned subsidiary Evertec Brasil Informática S.A. The parties have agreed to a transaction valued at R$787 million, representing approximately USD $144 million at current exchange rates, for a 75% ownership stake, which the Company expects to finance with existing liquidity. The agreement is subject to customary closing conditions, including approval by Brazil’s Administrative Council for Economic Defense (CADE), the government agency responsible for regulating national competition. If authorized, the deal is expected to close in the fourth quarter of 2025.
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“This acquisition continues to advance our growth strategy and expand our capabilities in Brazil,” said Mac Schuessler, President and CEO of Evertec. “We look forward to welcoming the Tecnobank team to Evertec and are excited about the opportunities ahead.”
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About Evertec
EVERTEC, Inc. is a leading full-service transaction processor and financial technology provider in Latin America, Puerto Rico and the Caribbean, providing a broad range of merchant acquiring, payment services and business process management services. Evertec owns and operates the ATH® network, one of the leading personal identification number (“PIN”) debit networks in Latin America. In addition, the Company manages a system of electronic payment networks and offers a comprehensive suite of services for core banking, cash processing and fulfillment in Puerto Rico, that process over ten billion transactions annually. The Company also offers financial technology outsourcing in all the regions it serves. Based in Puerto Rico, the Company operates in 26 Latin American countries and serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with “mission-critical” technology solutions.
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Source: businesswire