EVERTEC Agrees to Acquire Chilean Payments and Technology Company, BBR SpA

Rhea-AI Summary

EVERTEC, Inc. (NYSE: EVTC) has signed a share purchase agreement to acquire 100% of BBR SpA, a Chile-based payment solutions company, for CLP 48,600 million (approximately USD 60 million). This acquisition enhances EVERTEC's technology portfolio in Chile and facilitates entry into the Peruvian market, expanding its regional footprint. The transaction is subject to customary closing conditions, including regulatory approval, which may impact the timing of completion.

Positive

• Acquisition of BBR SpA enhances EVERTEC's technology and product portfolio in Chile.
• Facilitates entry into the Peruvian market, expanding market reach.
• Transaction value of approximately USD 60 million signals potential growth opportunity.

Negative

• Transaction subject to regulatory approval, which may delay completion.

SAN JUAN, Puerto Rico--(BUSINESS WIRE)-- EVERTEC, Inc. (NYSE: EVTC) (“Evertec” or the “Company”) today announced that it entered into a share purchase agreement to acquire 100% of the outstanding shares of BBR SpA ("BBR") a Santiago, Chile based payment solutions and business technology company with operations in Peru. The aggregate purchase price for the shares is CLP 48,600 million, approximately USD$60 million at current exchange rates and is subject to customary adjustments.

Mac Schuessler, Evertec's President and Chief Executive Officer stated, “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.”

The transaction is subject to customary closing conditions, including receipt of US federal bank regulatory approval, which is dependent on factors outside the control of Evertec. There is no assurance of when or if such approval will be obtained.

About Evertec

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 approximately 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220224006002/en/

Investor Contact

(787) 773-5442

IR@evertecinc.com

Media Contact

Alexandra López-Soler

939-400-6497

Alexandra.lopez@evertecinc.com

Source: EVERTEC

FAQ

What is the acquisition deal announced by EVERTEC and BBR?

EVERTEC announced a share purchase agreement to acquire BBR SpA for CLP 48,600 million (approximately USD 60 million), enhancing its technology portfolio and expanding into Peru.

What is the significance of EVERTEC acquiring BBR SpA?

The acquisition complements EVERTEC's offerings in Chile and opens the Peruvian market, strengthening its position in Latin America.

What are the conditions for the completion of the EVERTEC and BBR acquisition?

The transaction is subject to customary closing conditions, including the receipt of US federal bank regulatory approval.

When is the EVERTEC acquisition of BBR expected to close?

There is no assurance of when the acquisition will close, as it depends on obtaining regulatory approval.