February 19, 2020
Brazilian information technology company Matera confirmed on Tuesday that it sold a minority stake for BRL100 million ($22.9 million) to Kinea Investimentos, a private equity firm owned by the local bank Itaú Unibanco.
Matera did not reveal the size of the stake, but it said it will use the money to enter the US market and expand services in Brazil.
Founded 30 years ago, Matera provides digital services to retailers and financial institutions in Brazil and Canada, including Magazine Luiza, Loja
Brazilian IT firm looks to enter US market with $23 mln contribution from Itaú's Kinea