Evertec to acquire controlling stake in Tecnobank for $144M

Evertec (EVTC) announced it has entered into a definitive agreement to acquire a controlling stake in Tecnobank, a fintech vendor in Brazil’s digital vehicle financing contract registration sector, through its wholly-owned subsidiary Evertec Brasil Informatica. The parties have agreed to a transaction valued at R$787M, representing approximately $144M at current exchange rates, for a 75% ownership stake, which the company expects to finance with existing liquidity. The agreement is subject to customary closing conditions, including approval by Brazil’s Administrative Council for Economic Defense, the government agency responsible for regulating national competition. If authorized, the deal is expected to close in the fourth quarter of 2025.