EVERTEC Expands in Brazil with Acquisition of Tecnobank
EVERTEC, Inc., a leading digital technology company based in Puerto Rico, has expanded its footprint in Brazil with the acquisition of a controlling stake in Tecnobank Tecnologia Bancária S.A. The deal, closed recently, marks a significant step for EVERTEC in the rapidly-growing Brazilian digital market.
Tecnobank, a prominent fintech vendor in Brazil's digital vehicle financing contract registration sector, will bolster EVERTEC's digital technology capabilities and open new avenues for growth. Mac Schuessler, President and CEO of EVERTEC, expressed excitement about the acquisition, highlighting the strategic fit and potential synergies.
The acquisition was facilitated through EVERTEC's wholly-owned subsidiary, Evertec Brasil Informática S.A. Details of the transaction, including the purchase price, were not disclosed.
With this acquisition, EVERTEC strengthens its position in Brazil, a key market for the company's payment and transaction processing services. Tecnobank's expertise in digital vehicle financing contract registration will complement EVERTEC's existing offerings, driving growth and innovation in the digital region.
