Magazine Luiza adds tag-on acquisition

Magazine Luiza adds tag-on acquisition

M&A Technology Digital Payments Brazil

Brazilian retail company Magazine Luiza, also known as Magalu, acquired Bit55, a technology platform for processing payments with credit and debit cards, to complement a deal late last year for payment processing company Hub Prepaid Participações, investor relations manager Vanessa Rossini told LatinFinance on Tuesday. "Now customers can have a complete digital account [with us]," she said. Magalu has pursued an aggressive M&A strategy to increase its presence in e-commerce, and the Bit55 de

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