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February 25, 2022

Evertec signs deal to buy Chilean payments and tech firm BBR

Payments processing firm Evertec has brokered a deal to acquire Chile-based payments solution and business technology provider BBR.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

Under the agreement, Evertec will pay $60m (CLP48,600m) to acquire 100% of the outstanding shares of BBR, which also has operations in Peru.

The transaction is subject to regulatory approvals, including approval by the US federal bank.

Evertec president and CEO Mac Schuessler said the deal will complement the company’s existing technology and product portfolio in Chile while expanding its operations to Peru.

Schuessler said: “The acquisition of BBR complements our existing technology and product portfolio in Chile and opens the Peruvian market for Evertec.

“With this acquisition, we continue expanding our footprint and solidifying our position as a leading Latin American payment processing company.”

Based in Puerto Rico, Evertec provides a range of merchant acquiring, payment processing services and business process management solutions.

The firm operates a system of electronic payment networks, which are said to process approximately three billion transactions per year. It also offers core bank processing, cash processing, and technology outsourcing services.

Evertec currently caters to merchants, financial institutions, corporations, and government agencies in 26 Latin American countries.

In December last year, cloud-based restaurant operating system provider LINGA partnered with Evertec to improve payment experience in Puerto Rican and Latin American regions.

In 2019, the firm bought gateway and payment service firm PlacetoPay to bolster its footprint in Latin America.

It acquired Chile-based PayGroup in July 2017.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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