First Data is to acquire Brazilian eftpos manufacturer and software application developer Software Express.
Founded in 1986, Software Express serves 100,000 merchants in Brazil, processing over 11 billion transactions in 2018. The firm also delivers recharge services for mobile phones, and terminal applications for correspondent banking segments and transaction capture networks.
Combined, the two companies expect to process more than 15 billion transactions in Brazil
Henrique Ribeiro Filho, Software Express CEO, comments: “Software Express is accredited by all acquirers and has a broad portfolio offering including EFT, recharge servers for prepaid phones, front-end processor software, and correspondent banking software, among other services. Our clients will now benefit from First Data’s global expertise and knowledge, opening up additional possibilities for our clients, partners and employees.”
Financial terms of the deal were not disclosed.