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Evertec’s Colombia Takeover Adds to Latin American Fintech Fever

Dec. 2, 2019, 8:31 PM

Evertec Inc., which manages financial transaction networks, acquired one of Colombia’s largest payment service providers as it looks to expand its foothold in Latin America’s booming financial technology sector.

Puerto Rico-based Evertec, which has clients in more than two dozen countries in Latin America and the Caribbean, said Monday that it bought the processor of payments for more than 900 businesses in Colombia and Ecuador. The companies didn’t disclose the amount involved in the transaction.

The deal adds to a fintech boom that has seen Latin America become one of the fastest-growing regions for investments in the sector, according...

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