Evertec announced that it completed the acquisition of 100% of the shares of capital stock of EGM Engineering Without Borders, known commercially as PlacetoPay. Based in Colombia, PlacetoPay is a gateway and payment service provider primarily in Colombia and Ecuador.
Evertec entered into the agreement on July 26, 2019, as this media outlet reported.
“We’re pleased to complete the acquisition of PlacetoPay which will strengthen our presence in Colombia,” said Evertec CEO Mac Schuessler.
“While this will not materially impact our 2020 results, we anticipate this gateway will become our primary digital offering in the region and contribute to our Latin America growth strategy. We welcome the PlacetoPay team and its customers to Evertec,” he said.