SAN JUAN, Puerto Rico--(BUSINESS WIRE)--EVERTEC, Inc. (NYSE:EVTC) (“EVERTEC” or the “Company”) today announced that it completed the acquisition of 100% of the shares of capital stock of EGM Engineering Without Borders, known commercially as PlacetoPay. Based in Colombia, PlacetoPay is a gateway and payment service provider primarily in Colombia and Ecuador.
Mac Schuessler, EVERTEC’s President and Chief Executive Officer, said, “We are pleased to complete the acquisition of PlacetoPay which will strengthen our presence in Colombia. While this will not materially impact our 2020 results, we anticipate this gateway will become our primary digital offering in the region and contribute to our Latin America growth strategy. We welcome the PlacetoPay team and its customers to Evertec.”
About EVERTEC
EVERTEC, Inc. (NYSE:EVTC) 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 26 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, visit www.evertecinc.com.
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.
