Unico Buys MakroSystems in a Cash and Equity Transaction

Unico is paying BRL $150 million for 100% of MakroSystems’ Shares

Unico, the leader in digital identity in Brazil, has bought MakroSystems, a software developer, which provides layers of protection for the validation of financial transactions within bank’s applications. Unico is paying BRL $150 million for MakroSystems in a cash and equity transaction.

The startup was founded in 2006 by Alex Nunes and Christian de Jongh who will now become shareholders and executives of Unico. MakroSystems technology solutions target the financial sector. Basically, MakroSystems software tries to identify unexpected actions in a financial app in order to block unauthorized actions.

According to Diego Torres Martins, Unico‘s founder and CEO, the idea is to converge Unico and MakroSystems‘ technologies into a single product as the strategy behind Unico‘s buying MakroSystems. It is yet not certain whether the combined technologies will increase the price of Unico‘ subscription model or it will only be a way to deliver more value to customers with no increases in prices.

The deal was originated by one of the investment banks that serves Unico, which already uses the solutions of both companies, and suggested there could be synergies to be explored.

MakroSystems acquisition is the first since Unico raised $100 million in a round led by Goldman Sachs which valued the company at $2.6 billion.

The Esquires and the Firms Behind the Deal

Bronstein, Zilberberg, Chueiri & Potenza Advogados represented and acted as Brazilian legal counsel to Unico. 

Partner Sergio Bronstein led the Bronstein Zilberberg deal team with contribution from Agnaldo Mendes, Thiago Mendes de Oliveira, Julia Akerman Shinohara and Vitória Mussa

Bronstein Zilberberg is a full service law firm based in São Paulo and is highly recognized as one of the top M&A Venture Capital law firms in the country. 

TozziniFreire Advogados acted as Brazilian legal counsel to MakroSystems  with a team led by partners João Busin and Fernando Carvalho with contribution from corporate associates Barbara Queiróz and Marina Hoff

The IFRL1000 and Legal 500 accredited partner João Busin is head of the Private Equity & Venture Capital practice group of TozziniFreire and together with Juliana Maluf are based in the São Paulo headquarters of the firm, and are regarded as renowned specialists in the M&A Venture Capital and emerging growth technology companies spaces.

The Latin America Chambers 2022 TozziniFreire is a full service law firm and one of the most traditional firms of Brazil with headquarters in São Paulo and offices in Rio de Janeiro, Brasilia, Campinas, Porto Alegre, Caxias do Sul and New York.