Evertec to acquire 75% stake in Brazil’s Tecnobank for $144 million

SAN JUAN, Puerto Rico - Evertec, Inc. (NYSE:EVTC), a $2.32 billion market cap payment technology company, announced Thursday it has entered into a definitive agreement to acquire a controlling stake in Tecnobank Tecnologia Bancária S.A., a fintech vendor specializing in Brazil’s digital vehicle financing contract registration sector. According to InvestingPro analysis, Evertec appears undervalued at current levels, with strong financial metrics supporting its expansion strategy.

The transaction is valued at R$787 million (approximately $144 million at current exchange rates) for a 75% ownership stake, which Evertec plans to finance using existing liquidity. The company’s strong financial position, with a healthy current ratio of 2.2, suggests it can comfortably handle the acquisition. The deal remains subject to approval by Brazil’s Administrative Council for Economic Defense (CADE), the government agency responsible for regulating national competition.

If authorized, the acquisition is expected to close in the fourth quarter of 2025.

"This acquisition continues to advance our growth strategy and expand our capabilities in Brazil," said Mac Schuessler, President and CEO of Evertec, in a press release statement.

Evertec is a transaction processor and financial technology provider operating in Latin America, Puerto Rico, and the Caribbean. The company owns and operates the ATH network, a personal identification number debit network in Latin America, and provides services for core banking, cash processing, and fulfillment in Puerto Rico.

The Puerto Rico-based company currently operates in 26 Latin American countries, serving financial institutions, merchants, corporations, and government agencies with technology solutions.

The acquisition represents Evertec’s continued expansion efforts in the Brazilian market through its wholly-owned subsidiary Evertec Brasil Informática S.A.

In other recent news, Evertec Inc. reported its second-quarter 2025 earnings, which exceeded analyst expectations. The company achieved an adjusted earnings per share (EPS) of $0.89, surpassing the forecasted $0.85. Additionally, Evertec reported revenue of $230 million, which was higher than the anticipated $222.23 million. These results highlight the company’s strong financial performance during the quarter. Despite the positive earnings report, the company’s stock experienced a decline in after-hours trading. The stock closed at $33.44, though this movement is not the focus here. Analysts had projected these figures, and Evertec’s performance exceeded those projections. These developments provide investors with important insights into the company’s recent financial health.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.