Evertec, Inc. has entered into a definitive agreement to acquire a controlling stake in Tecnobank Tecnologia Bancária S.A. in Brazil.
The acquisition aims to advance Evertec's growth strategy and expand its product offering in Brazil.
The transaction is valued at R$787 million, approximately USD $144 million, for a 75% ownership stake.
Strategic Acquisition
The acquisition of Tecnobank enhances Evertec's capabilities in the digital vehicle financing contract registration sector in Brazil.
Financial Details
The transaction is valued at R$787 million, signaling Evertec's commitment to strategic investments for growth.
Expected Closing
Pending approval by Brazil's Administrative Council for Economic Defense (CADE), the deal is anticipated to close in Q4 of 2025.
- The acquisition of Tecnobank is expected to expand Evertec's market presence in Brazil and strengthen its position in the fintech industry.
- Evertec's move to acquire a leading fintech vendor demonstrates its commitment to innovation and growth in emerging markets.
Evertec's acquisition of Tecnobank represents a strategic step towards expanding its operations and product offerings in Brazil, showcasing the company's commitment to growth and innovation in the fintech sector.