Evertec, a Puerto Rican financial payment processing company, acquired Tecnobank, a Brazilian firm specializing in digital registration of vehicle financing contracts.
The deal, valued at $145M, gives Evertec a 75% stake in Tecnobank. The transaction is subject to approval and is expected to close in Q4 2025.
Founded 16 years ago, Tecnobank operates in 15 Brazilian states and has registered more than 12M contracts, processing over 100M data points.
Evertec will fund the acquisition with its own capital as part of its strategy to strengthen its presence in Brazil. Evertec has expanded in the market with previous acquisitions, including Sinqia for $510M in 2023 and PaySmart for $27M.
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