B3 spends cash for Neoway acquisition

B3 spends cash for Neoway acquisition

M&A Capital Markets Brazil Technology

The B3 stock exchange in São Paulo said it will use money from its "free cash position" to acquire technology company Neoway for BRL1.8 billion ($325 million), according to a securities filing. Local press reports said last week that B3 could spend between BRL1.5 billion and BRL2 billion to buy Neoway, a company that specializes in big data analytics and artificial intelligence for businesses. Local press also said B3 had won a bidding battle with Experian, the Anglo-Irish consumer credit report

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