Market Overview

Evertec Shares Shoot Up More Than 10% On Report Of Sale Talk

Evertec Shares Shoot Up More Than 10% On Report Of Sale Talk

Puerto Rico-based payments processing company Evertec Inc (NYSE: EVTC) is exploring multiple strategic options that include a potential sale, according to a Bloomberg report Tuesday.

What Happened: The report states the company is working with a financial advisor to identify potential acquirers.

Some of the suitors it could appeal to include Global Payments Inc. (NYSE: GPN) and Fiserv Inc. (NASDAQ: FISV), people familiar with the matter told Bloomberg.

Global Payments and Fiserv acquired payments companies Total System Services Inc. and First Data Corp. last year, respectively.

Benzinga's Take: Evertec is a digital payments company that offers services in Puerto Rico and other Latin American markets. The robust growth in the digital payments space makes Evertec an enviable acquisition which could also help companies gain a foothold in the high-growth markets of Central and South America.

Price Action: Evertec shares traded 10.6% higher at $34.46 on Tuesday and is now valued at $2.48 billion.


Related Articles (FISV + EVTC)

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Posted-In: M&A News Rumors Markets Media

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