• 3,000 firms
  • Independent
  • Trusted
Save up to 70% on staff

News » Evertec poised to expand into Brazil with Sinqia acquisition

Evertec poised to expand into Brazil with Sinqia acquisition

Evertec expands to Brazil with Sinqia

SAN JUAN, PUERTO RICO — In a significant development, Evertec, a transaction processing firm in Latin America and the Caribbean, has made an agreement to acquire Sinqia, a Brazilian frontrunner in financial services software solutions. Valued at R$27.19 (US$5.74) per share, this acquisition marks Evertec’s strategic pursuit of expansion and diversification.

Mac Schuessler, Evertec’s CEO, pointed out the mutual benefits of the partnership, “We believe that our digital payments engine together with Sinqia’s banking and financial software platform will position us as the leading fintech company in Latin America.

The buyout, which has received full approval from both Evertec’s and Sinqia’s boards of directors, is slated for completion in late 2023. Financing the acquisition will be achieved using both cash on hand and a secured funding of US$600 million.

Bernardo Gomes, Sinqia’s CEO, voiced his anticipation for the future partnership. “Combining our companies will enhance services for both of our growing customer bases as well as provide opportunities for our team members as Evertec continues to expand in attractive markets with strong macro tailwinds,” said Gomes.

The alliance is expected to leverage the synergies between Evertec’s payment solutions and Sinqia’s software offerings. This positions the new entity as a potentially dominant player in the Latin American fintech market. As part of this deal, Evertec also plans to mitigate the impact of newly issued shares by augmenting its share repurchase program.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.

“Excellent service for outsourcing advice and expertise for my business.”

Learn more
Banner Image
Get 3 Free Quotes Verified Outsourcing Suppliers
3,000 firms.Just 2 minutes to complete.
SAVE UP TO
70% ON STAFF COSTS
Learn more

Connect with over 3,000 outsourcing services providers.

Banner Image

Transform your business with skilled offshore talent.

  • 3,000 firms
  • Simple
  • Transparent
Banner Image