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EVERTEC Receives Approval on PayGroup Acquisition

SAN JUAN, Puerto Rico, Jun 05, 2017 (BUSINESS WIRE) — EVERTEC,

EVTC, -0.30%

(“EVERTEC” or the “Company”) today announced that on June 1,
2017 the Company received U.S. federal bank regulatory approval
for the acquisition of EFT Group S.A., a Chilean-based company
known commercially as PayGroup at a purchase price of
approximately CLP 26,918 million, or approximately US$ 40
million at current exchange rates, subject to customary
adjustments. PayGroup is a payment processing and software
company serving primarily financial institutions throughout
Latin America. The transaction is subject to customary closing
conditions and is anticipated to close in the third quarter
2017. EVERTEC expects to fund the purchase using a combination
of cash on hand and funds borrowed under the existing revolving
line of credit.

Mac Schuessler, EVERTEC’s President and Chief Executive
Officer, said, “We are pleased to receive Federal approval for
our transaction. This acquisition aligns well with our strategy
to invest in the Latin American market and provides us with a
foundation to expand upon in the future.”



is a leading full-service transaction processing
business in Latin America, providing a broad range of merchant
acquiring, payment processing and business solutions services.
The Company manages a system of electronic payment networks
that process more than two billion transactions annually, and
offers a comprehensive suite of services for core bank
processing, cash processing and technology outsourcing. In
addition, EVERTEC owns and operates the ATH® network, one of
the leading personal identification number (“PIN”) debit
networks in Latin America. Based in Puerto Rico, the Company
operates in 18 Latin American countries and serves a
diversified customer base of leading financial institutions,
merchants, corporations and government agencies with
“mission-critical” technology solutions. For more information,

Forward-Looking Statements
This announcement may contain certain forward-looking
statements within the meaning of the “safe-harbor” provisions
of the Private Securities Litigation Reform Act of
1995. Statements that are not historical facts, including
revenue and earnings estimates and management’s expectations
regarding future events and developments, are forward-looking
statements and are subject to significant risks and
uncertainties. Important factors that may cause actual
events or results to differ materially from those anticipated
by such forward-looking statements include the following: the
effect of current domestic and worldwide economic conditions,
including sovereign insolvency situations, and future
performance and integration of acquisitions including PayGroup,
and other risks detailed in the Company’s SEC filings,
including the most recently filed Form 10-K, as
applicable. The Company undertakes no obligation to revise
any of these statements to reflect future circumstances or the
occurrence of unanticipated events.

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Investor Contact
Kay Sharpton, 787-773-5442

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