Brazil Locaweb Acquires Squid

Latin America’s Internet hosting, virtual store and email marketing Locaweb announced it has acquired SQUID, a company specialized in connecting influencers and content creators to brands

Brazil Locaweb Acquires Squid. Latin America’s Internet hosting, virtual store and email marketing Locaweb announced this Tuesday it has acquired SQUID. The company is specialized in connecting influencers and content creators to brands. The value of the transaction is of approximately BRL $176.5million.

According to Locaweb, SQUID shareholders will be entitled to receive any earn-out, depending upon the achievement of certain financial goals calculated based on SQUID’s net transfer revenue.

Founded in 2014, SQUID operates in the creators space in Brazil and automates the process of identification, recruitment, management and payment of digital influencers.

SQUID clients include giants such as Natura, Unilever and Spotify. Locaweb is on a buying spree since its IPO with acquisitions such as Social Miner, Etus, Vindi, Melhor Envio, ConnectPlug, Samurai, Credisfera and Dooca Commerce.

Shares of Locaweb are trading down -1,10% with the market on the news.

The Esquires

Tech savvy Bronstein, Zilberberg, Chueiri & Potenza Advogados acted as legal counsel to SQUID. The firm’s deal team was led by partners Sergio Bronstein, Eduardo Zilberberg and Vivian Tito Rudge with associate Raphael Chamma and legal assistant Ana Paula Medeiros.

Tauil & Chequer Advogados in association with Mayer Brown advised Locaweb with a team which included partner Guilherme Tranquillini and associates Isabela Franco, Isabela Corrêa Souza Ribeiro, Isabella Toledo Nalesso Santos and Sophia Toscano De Maio.