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EVERTEC Receives Approval on Processa Transaction

By on February 22, 2016

SAN JUAN – Puerto Rico-based EVERTEC Inc. has received federal regulatory approval for the acquisition of 65% of the share capital of Processa S.A.S., a Colombian payment processing company based in Bogotá. The transaction is subject to customary closing conditions and is anticipated to close at or about the end of the first quarter of 2016. The transaction will be completed with cash on hand.

With operations in 19 Latin American countries, EVERTEC manages a system of electronic payment networks that process more than two billion transactions annually, and offers services for bank processing, cash processing and technology outsourcing. It owns and operates the ATH network, a personal identification number debit network.

Mac Schuessler, EVERTEC’s president and CEO, said, “We are pleased to receive federal approval for our transaction. This acquisition aligns well with our strategy to invest in the Colombian market and provides us with a platform to expand upon in the future.”

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