Fintech Evertec to buy B3-Totvs joint venture Dimensa for $181 million
SAO PAULO, Feb 2 (Reuters) - Latin American fintech Evertec EVTC.N on Monday said it will acquire Dimensa, a joint venture formed by Brazilian software firm Totvs TOTS3.SA and the country's stock exchange operator B3 B3SA3.SA, for 950 million reais ($181 million).
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Dimensa offers products including card processing, credit analysis and banking management systems.
Created in 2021, the firm serves more than 15,000 financial institutions and has about 1,000 employees in Brazil.
Evertec is looking to expand its current portfolio to risk and insurance services and strengthen its banking and fund products, it said in a statement.
The transaction still requires approval from Brazil's antitrust watchdog CADE, the fintech added.
If approved, the deal is expected conclude in the second quarter of this year.
The deal for Dimensa would be Evertec's fourth acquisition in Brazil, Latin America's largest economy.
($1 = 5.2556 reais)
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