- MercadoLibre Inc MELI has acquired Redelcom, a Chilean company operating since 2010 as a payment services provider, for an undisclosed sum. In October 2019, Redelcom began offering point-of-sale (POS) terminals with the latest technology to retailers.
- Through the deal, Mercadolibre seeks to consolidate its value proposition in Chile and enhance the growth of its multiple payment tools and digital financial solutions.
- Redelcom will join the Mercado Libre and Mercado Pago ecosystem.
- MercadoLibre expects Redelcom to further strengthen its operation in Chile in the payment methods sector.
- MercadoLibre held $1.42 billion in cash and equivalents as of September 30, 2021.
- Price Action: MELI shares closed higher by 3.10% at $1,180 on Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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