Evertec closes acquisition of Chilean co. PayGroup
July 5, 20170708
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.
This story was written by our staff based on a press release.
Can we count on you?
As recent events have shown us, independent and responsible journalism is more important than ever. That’s why your support is very necessary to ensure that we will be around for a while!
We want to stay true to our mission of delivering quality journalism…for that, we count on your support. Every contribution, big or small, is greatly appreciated!