MercadoLibre Acquires Chilean Payment Services Provider Redelcom For Undisclosed Sum

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.

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