TOTVS to acquire Bematech and create largest IT provider for retail in Latin America

TOTVS, one of the largest Brazilian IT companies, will pay R$ 467.4 million (US$ 130 million) in cash and R$ 82.5 million (US$ 24 million) in stock to buy 100% of Bematech, which specializes in automation for retailers. The operation should be voted on at a meeting of shareholders, on September 3. CADE, Brazil’s anti-trust authority has been notified. The deal is being called corporate restructuring. If it was a classic acquisition, a public offering would have to be done, explained the director of investor relations at Totvs, Douglas Furlan. Totvs already operates in retail automation, but focused on a few areas such as large discount retailers and car dealerships, for example. Now, with Bematech, the scope increases for food outside the home, hotels and building materials, among other sectors.

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