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Financial Services | TMT | Private Equity

PayGroup has been acquired by Evertec, Inc.

Mater Private Equity has sold PayGroup to Evertec, Inc.

PayGroup, a Chilean-based group that emerged from the integration of EFT Group and Uruguayan PayTrue, is the leading company in the development of transactional, payment, collection, card core (credit/debit/prepaid) solutions, fraud and AML (anti money laundering), with presence in more than 15 countries in Latin America. With 20 years of experience, the company was created by a group of entrepreneurial engineers who detected a need in the financial industry and developed a successful business idea, from which they were able to build a company that today competes in the most complex markets of the region and is a leader in Latin America.

Evertec (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 2.1 billion transactions annually and offers a comprehensive suite of services for core bank processing, cash processing and technology outsourcing. In addition, it owns and operates the ATH® network, one of the leading personal identification number (PIN) debit networks in Latin America. Based in Puerto Rico, Evertec 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.

Mater Fund Administrator started its operation in early 2010, from the association of a group of expert managers in administration of investment funds who, until then, operated under the name of UMM Capital, and Activa SpA, a LarraínVial company committed to private equity development.

Oaklins' team in Chile advised the seller in this transaction.

Parties

Talk to the deal team

 Raimundo  Silva

Raimundo Silva

Partner
Santiago, Chile
Oaklins LarrainVial

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