Evertec Completes Acquisition of Colombia’s Processa
San Juan-based electronic payments processor Evertec Inc. announced it had closed on the acquisition of 65% of the share capital of Processa S.A.S., a Colombian payment processing company that is based in Bogotá, Colombia.
Caja de Compensación Familiar (Compensar), the second largest social funds administrator in Colombia, has retained a 35% ownership in Processa.
Mac Schuessler, Evertec President & CEO, said, “We are pleased to have completed the acquisition of Processa and welcome the Processa team and customers to 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 19 Latin American countries and serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with “mission-critical” technology solutions.