Locaweb buys software developer

Locaweb buys software developer

Corporate & Sovereign Strategy Equity M&A Debt Technology Energy Latin America South America Brazil

Brazilian web services company Locaweb said Thursday that it agreed to buy business management software developer Bling for BRL524 million ($95.8 million), dipping into funds it raised for acquisitions in a follow-on equity offering in February. The purchase price is subject to adjustments for net debt and working capital, and the seller, Organisys Software, will receive an earn-out payment if Bling meets certain financial targets, Locaweb said in a securities filing. "With this acquisition, Loc

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial