Evertec, a leading full-service transaction processor and financial technology provider, has completed the previously announced acquisition of a controlling stake in Tecnobank Tecnologia Bancária S.
A. through its subsidiary, Evertec Brasil Informática S.
A. Tecnobank is a prominent fintech vendor in Brazil’s digital vehicle financing contract registration sector.
Mac Schuessler, President and CEO of Evertec, commented on the acquisition, stating, “We are excited to welcome the Tecnobank team to Evertec, strengthening our financial technology capabilities and opening new avenues for growth. Further, this acquisition scales our footprint in the rapidly-growing Brazilian market as we look to continue our momentum across Latin America.”Evertec (NYSE: EVTC) operates across Latin America, Puerto Rico, and the Caribbean, offering merchant acquiring, payment services, and business process management. The company owns and operates the ATH® network, a significant personal identification number (PIN) debit network in Latin America, and manages various electronic payment networks.
Based in Puerto Rico, Evertec provides a comprehensive suite of services for core banking, cash processing, and fulfillment in Puerto Rico, processing over ten billion transactions annually. It also offers financial technology outsourcing services to a diverse clientele of financial institutions, merchants, corporations, and government agencies across 26 Latin American countries.
