EVERTEC Closes the Acquisition of Brazilian Payments Company paySmart
SAN JUAN, Puerto Rico, February 22, 2023--(BUSINESS WIRE)--EVERTEC, Inc. (NYSE: EVTC) ("EVERTEC" or the "Company") today announced that it acquired 100% of Paysmart Pagamentos Eletronicos Ltda ("paySmart"). Headquartered in Porto Alegre, Brazil, paySmart provides issuer processing services and BIN Sponsorship services for prepaid programs under domestic and international schemes in Brazil. The aggregate purchase price is R$130 million, approximately USD$25 million at current exchange rates.
Mac Schuessler, Evertec's President and Chief Executive Officer stated, "We are pleased to announce the acquisition of paySmart, which helps us accelerate our expansion in Brazil and compliments our current product offering in this important market."
EVERTEC, Inc. (NYSE: EVTC) is a leading full-service transaction processing business in Puerto Rico, the Caribbean and Latin America, providing a broad range of merchant acquiring, payment services and business process management services. Evertec owns and operates the ATH® network, one of the leading personal identification number ("PIN") debit networks in Latin America. In addition, the Company manages a system of electronic payment networks and offers a comprehensive suite of services for core banking, cash processing and fulfillment in Puerto Rico, that process over three billion transactions annually. The Company also offers technology outsourcing in all the regions it serves. Based in Puerto Rico, the Company operates in 26 Latin American countries and serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with "mission-critical" technology solutions. For more information, visit www.evertecinc.com.
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