Evertec, a financial technology provider in Latin America, has announced its plan to acquire a controlling stake in Tecnobank Tecnologia Bancária for BRL787m ($144m).
Tecnobank Tecnologia Bancária is among the key fintech players in Brazil’s digital vehicle financing sector.
The acquisition will be executed through Evertec’s subsidiary, Evertec Brasil Informática.
This transaction, which secures a 75% ownership stake, will be financed using Evertec’s existing liquidity. It is aimed to advance Evertec’s growth strategy and further grow its product offering in Brazil.
Evertec president and CEO Mac Schuessler said: “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.”
The agreement is contingent upon customary closing conditions, including approval from Brazil’s Administrative Council for Economic Defense (CADE). If sanctioned, the transaction is anticipated to conclude in Q4 2025.
Evertec operates as a full-service transaction processor and financial technology provider across Latin America, Puerto Rico, and the Caribbean. The company offers a range of services including merchant acquiring, payment services, and business process management.
With its headquarters in Puerto Rico, Evertec operates in 26 countries and serves various financial institutions, merchants, corporations, and government agencies. The company manages the ATH network, a PIN debit network in Latin America, processing over 10 billion transactions each year.
In its recent financial disclosures for the second quarter ending 30 June 2025, Evertec reported an 8% increase in revenue to $229.6m compared to the previous year’s $212m.
The GAAP net income attributable to common shareholders rose by 27% to $40.5m or $0.62 per diluted share. Adjusted EBITDA also increased by 8% to $92.6m with adjusted earnings per share climbing by 7% to $0.89.
Looking ahead, Evertec has revised its financial outlook for 2025 with expected revenue between $901m and $909m, indicating growth between 6.6% and 7.6%. Adjusted earnings per common share are projected to be between $3.44 and $3.52.
