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Evertec to Acquire Controlling Stake in Tecnobank, a Fintech Company in Brazil

1. Evertec acquires controlling stake in Brazil's Tecnobank for R$787 million. 2. The acquisition targets Brazil's digital vehicle financing market.

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$36.1608/21 08:37 AM EDTEvent Start
$35.808/21 09:19 PM EDTLatest Updated
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FAQ

Why Bullish?

The acquisition expands Evertec's market footprint in a growing sector, potentially increasing revenues. Historical examples show growth in fintech acquisitions leading to stock appreciation.

How important is it?

The acquisition significantly enhances Evertec's capabilities in a sought-after market, likely drawing investor interest. Given the ongoing growth in fintech, especially in vehicle financing, this move could substantially influence EVTC's future valuation.

Why Long Term?

While immediate effects might be limited, strategic acquisitions tend to show benefits over time as integration occurs. For instance, similar fintech expansions have bolstered growth trajectories post-acquisition.

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PAYXFISVVMA
SAN JUAN, Puerto Rico--(BUSINESS WIRE)--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 approxi.

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