EVERTEC Bolsters Latin American Presence with Tecnobank Acquisition
EVERTEC, Inc. (NYSE: EVTC) has completed a significant acquisition, purchasing a controlling stake in Tecnobank Tecnologia Bancária S.A. (Tecnobank), a leading fintech vendor in Brazil's digital vehicle financing contract registration sector. The deal, closed through Evertec's wholly-owned subsidiary Evertec Brasil Informática S.A., has sparked excitement from Mac Schuessler, President and CEO of Evertec.
Tecnobank, previously acquired by Banco do Brasil in 2016, brings a wealth of expertise and a strong presence in the Brazilian market. Evertec's acquisition opens new avenues for growth and strengthens its footprint in the region. Schuessler expressed enthusiasm about the deal, highlighting the potential to bolster financial technology capabilities.
The acquisition aligns with Evertec's strategic vision to expand its services and enhance its offerings in the dynamic Brazilian market. With Tecnobank's leading position in digital vehicle financing, Evertec is poised to tap into new opportunities and further solidify its presence in Latin America.
EVERTEC's acquisition of Tecnobank is set to drive growth and strengthen its financial technology capabilities. The deal, welcomed by Evertec's CEO, signals the company's commitment to expanding its footprint in the Brazilian stock market today and beyond.
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