LatamList – Evertec, a payments processing startup from Puerto Rico, is said to be investigating “strategic business options”, including a “possible sale”.
Evertec, a leading fintech in Puerto Rico for payments processing, is active in 27 countries across Latin America. The company is reportedly working with a financial advisor, to assess interest from potential buyers, such as Global Payments Inc. and Fiserv Inc., both leading firms in the digital payments industry, and competitors in the Puerto Rican technology industry.
Puerto Rico’s banking sector has become increasingly strong over recent years, laying the foundations for a possible partnership such as that between Evertec and Fiserv. It is still not clear if Evertec will make a full exit or will remain as an independent company.
Nevertheless, the likely possibility of a sale in the midst of the coronavirus pandemic demonstrates the increasing value of the digital payments industry during these times. Evertec’s Wall Street value sits at $2.5B, according to the company’s data.
Read the full article on Bloomberg and El Nuevo Día.