Evertec, Inc. (NYSE: EVTC), a transaction processor and financial technology provider, has announced a definitive agreement to acquire a controlling 75% stake in Tecnobank Tecnologia Bancária S.

A., a leading fintech vendor in Brazil’s digital vehicle financing contract registration sector.

The transaction is valued at R$787 million, approximately USD $144 million at current exchange rates. Evertec anticipates financing the acquisition using its existing liquidity. The agreement is contingent on customary closing conditions, including approval from Brazil’s Administrative Council for Economic Defense (CADE), the government agency responsible for regulating national competition. If authorized, the deal is projected to close in the fourth quarter of 2025.

Mac Schuessler, President and CEO of Evertec, stated, “This acquisition continues to advance our growth strategy and expand our capabilities in Brazil. We look forward to welcoming the Tecnobank team to Evertec and are excited about the opportunities ahead.”

Evertec, Inc., headquartered in Puerto Rico, operates as a full-service transaction processor and financial technology provider across Latin America, Puerto Rico, and the Caribbean. The company offers a broad range of services including merchant acquiring, payment services, and business process management. Evertec also owns and operates the ATH® network, a prominent PIN debit network in Latin America, and manages electronic payment networks. Its services encompass core banking, cash processing, and fulfillment in Puerto Rico, processing over ten billion transactions annually. Additionally, Evertec provides financial technology outsourcing in its served regions, catering to financial institutions, merchants, corporations, and government agencies with critical technology solutions in 26 Latin American countries.

Tecnobank specializes in digital solutions for vehicle financing contract registration in Brazil.