Evertec closes acquisition of Chilean co. PayGroup
July 5, 2017
As basis for its upgrade, S&P noted Evertec’s “conservative balance sheet and solid credit metrics while expanding revenue amid several external impacts including the COVID-19 pandemic.”
Evertec’s San Juan headquarters.
Evertec Inc. announced the completion of its acquisition of EFT Group S.A., commercially known as PayGroup.
Based out of Chile, PayGroup offers payment processing and software services targeted primarily to financial institutions throughout Latin America. The purchase price was approximately $38.5 million, Evertec confirmed.
The transaction closed about a month after on June 1, 2017, Evertec received U.S. federal bank regulatory approval to buy PayGroup
Based in San Juan, Evertec Inc. is a full-service transaction processing business in Latin America, providing a broad range of merchant acquiring, payment processing and business solutions services.
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This story was written by our staff based on a press release.
