Evertec, Inc. has just announced its acquisition of a controlling stake in Tecnobank Tecnologia Bancária S.A. The transaction is valued at R$787 million, which is approximately USD $144 million at current exchange rates. This acquisition represents a 75% ownership stake in the leading fintech vendor in Brazil's digital vehicle financing contract registration sector.
The deal, which is subject to approval by Brazil’s Administrative Council for Economic Defense (CADE), is expected to close in the fourth quarter of 2025. Evertec plans to finance the acquisition with its existing liquidity.
Mac Schuessler, President and CEO of Evertec, expressed enthusiasm about the acquisition, stating, "This acquisition continues to advance our growth strategy and expand our capabilities in Brazil."
As a leading full-service transaction processor and financial technology provider in Latin America, Puerto Rico, and the Caribbean, Evertec serves a diversified customer base of leading financial institutions, merchants, corporations, and government agencies. The company operates in 26 Latin American countries and manages a system of electronic payment networks that process over ten billion transactions annually.
This acquisition marks a significant move in Evertec's growth strategy and further expands the company's product offering in Brazil. As a result of these announcements, the company's shares have moved -2.53% on the market, and are now trading at a price of $36.16. For more information, read the company's full 8-K submission here.
