Puerto Rico-Based Evertec to Acquire 75% Stake in Brazil’s Tecnobank for $140 Million

Introduction

The Evertec Tecnobank acquisition marks a significant milestone in Brazil’s fintech evolution. Puerto Rico–based Evertec, Inc. (NYSE: EVTC) announced on August 21, 2025, that it will acquire a 75% controlling stake in Brazilian fintech Tecnobank Tecnologia Bancária S.A. for BRL $787 million, approximately US$144 million.

Rationale: Evertec Tecnobank Acquisition and Scope

The Evertec Tecnobank acquisition expands Evertec’s presence in Latin America’s largest economy, where Tecnobank has established itself as a market leader in the registration of vehicle financing contracts. By acquiring Tecnobank, Evertec is not just broadening its portfolio of fintech services; it is stepping into a critical layer of Brazil’s credit infrastructure that touches millions of auto finance transactions every year. The purchase will be carried out through Evertec’s local subsidiary, Evertec Brasil Informática S.A., and will be fully funded by existing liquidity, highlighting the company’s solid financial position.

Regulatory Approval and Deal Timeline

Like any major cross-border acquisition, the transaction is subject to customary closing conditions. In this case, the most important is the approval of Brazil’s antitrust watchdog, CADE (Conselho Administrativo de Defesa Econômica). The Evertec Tecnobank acquisition is expected to secure regulatory clearance and complete the acquisition in the fourth quarter of 2025.

Deal Structure and Future Outlook

The structure of the agreement gives Evertec immediate control of 75% of Tecnobank, while leaving the door open for a full takeover in the future. The company retains the option to acquire the remaining 25% at a later date. Following closing, a shareholders’ agreement will regulate governance and management continuity, as well as establish reciprocal put and call options for share transfers. This design ensures both stability and flexibility as the integration progresses.

Tecnobank’s Business and Market Role

Founded in 2007 and headquartered in São Paulo, Tecnobank plays a pivotal role in Brazil’s financial system by offering digital contract registration services for vehicle financing. These services are essential for ensuring compliance and legal validity in auto lending, a segment that remains one of the cornerstones of consumer credit in the country. Tecnobank positions itself as a leader in the digital transformation of this process, reducing the paperwork burden and improving transparency for lenders and borrowers alike.

Evertec’s CEO, Mac Schuessler, emphasized the strategic importance of this move: “This acquisition continues to advance our growth strategy and expand our capabilities in Brazil. We look forward to welcoming the Tecnobank team to Evertec and are excited about the opportunities ahead.” His remarks underline not only the financial rationale of the deal but also Evertec’s intent to deepen its integration into Brazil’s financial ecosystem.

Market Reactions to the Evertec Tecnobank Acquisition

Analysts have pointed out that Evertec’s use of existing liquidity for the purchase is a sign of strength, suggesting the company is well-capitalized to expand without immediate reliance on external financing. Investor sentiment remains positive, with platforms such as TipRanks maintaining a “Buy” rating on Evertec’s stock and highlighting the potential upside of its expansion in Brazil. The move also fits into a broader narrative: Latin America, and particularly Brazil, is increasingly drawing attention from global fintech investors who see both scale and untapped efficiency in the region’s financial infrastructure.

The Firms Behind The Deal

Lefosse Advogados acted as legal counsel to Tecnobank Tecnologia Bancária S.A. The transaction also had the support of Tecnobank’s internal legal team which consisted of attorneys Conrado Almeida Corrêa Gontijo and Luciana Sterzo.

XP Investimentos acted as financial advisor to Tecnobank.

Closing Thoughts About the Evertec Tecnobank acquisition

The Evertec Tecnobank acquisition is more than a balance-sheet transaction. It is a bet on Brazil’s vehicle finance infrastructure and a statement of intent from Evertec to become a deeper player in the region’s fintech landscape. Pending CADE approval, the deal is set to reshape Evertec’s position in Latin America and open new avenues for growth in one of the world’s most dynamic financial markets.

The Evertec–Tecnobank acquisition is also covered in detail in our Week Review Brazil Deals edition this week and ranked as a top M&A deal for August 2025 in Brazil.

Resumo em Português
A Evertec anunciou a aquisição da Tecnobank, expandindo sua presença no mercado de pagamentos digitais e infraestrutura fintech no Brasil. A operação reforça a estratégia da companhia de ampliar soluções tecnológicas em meios de pagamento e serviços financeiros, integrando a expertise local da Tecnobank ao portfólio regional da Evertec. O negócio reflete a crescente demanda por digitalização no setor e consolida o Brasil como mercado-chave para a expansão da empresa.

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