EVERTEC solidifies position in Latin America; buys PayGroup

EVERTEC Inc of Puerto Rico has completed the acquisition of EFT Group SA, commercially known as PayGroup. Based out of Chile, PayGroup offers payment processing and software services targeted primarily to financial institutions throughout Latin America. The purchase price was approximately CLP25,473 million, or approximately US$38.5 million at current exchange rates.
EVERTEC 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 25 Latin American countries and serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with “mission-critical” technology solutions.