Itaú acquires software company

Itaú acquires software company

M&A Equity Regulation Brazil

Brazil's Itaú Unibanco said it has agreed to buy the local software company Zup for BRL575 million ($143 million).The bank will initially spend BRL293 million for 51% of Zup, followed three years later by the acquisition of an additional 19.6% and the remaining 29.4% a year after that, Itaú said in a securities filing.The acquisition allows Itaú to speed up the development of "digital transformation products" and offer new digital services to its customers, but the Uberlândia-based software form

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