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Acquisition advances Evertec's growth strategy and further expands Evertec's product offering in Brazil
EVERTEC, Inc. (NYSE:EVTC) ("Evertec", the "Company", "we" or "our") today 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.
Posted In: EVTC
