
Totvs, in talks to buy Linx, eyes other Brazil deals in 2025
SAO PAULO (Reuters) -Brazilian software company Totvs SA is eyeing targets for acquisitions this year beyond StoneCo's Linx unit, Chief Executive Dennis Herszkowicz said in an interview, adding the company will not need to sell assets to finance deals.
Totvs has shown interest in Linx since 2020, when StoneCo won a bidding war by paying 6.7 billion reais ($1.22 billion) for the retail software developer. In April, Totvs entered exclusive negotiations with StoneCo to acquire the unit.
Herszkowicz said those talks were ongoing and an acquisition would be beneficial, given Linx's leading position in providing software for Brazilian retailers. But he said closing the deal was not essential for the company's growth.
"Totvs is very broad. And our portfolio is very wide. There isn't one acquisition that solves everything we want to solve," Herszkowicz told Reuters in a Tuesday interview.
He said accelerating trends in artificial intelligence, cloud computing and other digital technology had created several opportunities where acquisitions offered effective shortcuts.
Totvs is present in several Latin American countries, but the company is focused on deals in Brazil, which represents the "overwhelming majority" of its business, the CEO said.
Herszkowicz declined to give details on the timing or transaction values under negotiation for Linx or other assets.
He said Totvs had not hired an advisor to sell its stake in financial technology firm Dimensa, a joint venture with Brazil exchange operator B3, again denying a local media report.
Any acquisitions by Totvs this year will not rely on capital from divestitures, which the company doesn't need to finance deals, according to Herszkowicz.
"Like any company, at any moment, we always have the possibility to evaluate anything. Now, there's nothing (related to Dimensa) effectively happening at this moment," he said.
($1 = 5.49 reais)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Bloomberg
28 minutes ago
- Bloomberg
Sinclair Weighs Sale of TV Stations, Other Ventures
Sinclair Inc., one of the largest TV station owners in the US, has begun a strategic review that could result in sale or breakup of the company. The company said Monday it will evaluate 'all value-enhancing opportunities, including acquisitions, strategic partnerships, and business combinations, with potential partners in the broadcast and the broader media and technology ecosystem.'
Yahoo
an hour ago
- Yahoo
C3.ai Stock Plummets 25% After ‘Completely Unacceptable' Preliminary Results
Key Takeaways Shares of lost a quarter of their value after the AI software provider posted preliminary sales figures that were significantly weaker than expected. CEO Tom Siebel called the sales results 'completely unacceptable' and blamed a reorganization of leadership and his health as contributing factors. With Monday's losses, the former AI darling's stock has lost more than half its value this of (AI) plunged after the AI software provider posted preliminary financial results that fell well short of the company's own expectations and that the CEO called "unacceptable." The former AI darling's stock fell over 25% Monday to just above $16. It has lost more than half its value since the year began. said it expects to report an adjusted loss of $57.7 million to $57.9 million, on revenue of $70.2 million to $70.4 million for its fiscal first quarter, down from $87.2 million in revenue the same period a year earlier. In May, the company had guided for revenue of $100 to $109 million. The company is set to release its full results on Sept. 3. CEO Calls The Numbers 'Completely Unacceptable' CEO Tom Siebel called the sales figures 'completely unacceptable,' and pointed to disruptions from a reorganization of the company's leadership and his health as contributing factors to the company's poor performance. The company announced in late July that it is actively searching for a successor to Siebel, who said he was diagnosed with an autoimmune disease and has experienced 'multiple hospitalizations and vision impairment.' D.A. Davidson analysts called the results 'catastrophic' in a note to clients Sunday, and downgraded stock to 'underperform' following the results, writing they view "business trends as likely to get worse before they get better." Analysts at Wedbush maintained an "outperform" rating for stock after the results, but lowered their target to $23 from a Street high of $35 on Monday, calling the sales miss "brutal." "It will take lots of time to regain Street confidence and build further momentum in the stock given the weakness in its operational performance," the Wedbush analysts wrote. Read the original article on Investopedia
Yahoo
an hour ago
- Yahoo
Brazilian businessman Nelson Tanure may give up on Braskem deal
By Luciana Magalhaes SAO PAULO (Reuters) -Brazilian businessman Nelson Tanure may give up on his bid to acquire a controlling stake in Latin America's largest petrochemical firm Braskem as his exclusive negotiations window nears closing without an agreement to resolve claims from an environmental incident linked to the company. Last May, Tanure signed a 90-day exclusivity document to discuss the terms of an offer to acquire a controlling stake in Braskem from Novonor, formerly Odebrecht. The businessman has since been working to resolve issues stemming from environmental investigation into ground subsidence in the northeastern city of Maceió, where Braskem had rock salt mines. In a written response to Reuters on Monday, Tanure said settling this case is a non-negotiable term for his Braskem bid, whose current exclusivity period ends on August 21. "An agreement with all entities involved in the Alagoas disaster is a sine qua non (condition), and especially applies to the non-transfer of criminal and financial responsibility to the new shareholders," he answered without elaborating on his next steps. The incident was allegedly caused by Braskem's rock salt extraction activities, which began in the 1970s and were halted in 2019 after authorities determined they contributed to the sinking of five neighborhoods, leading to the displacement of thousands of residents. As Tanure mulls his next moves, private equity firm IG4 Capital is biding its time, poised to launch a rival bid when Tanure-Novonor agreement lapses. IG4's strategy aims to consolidate Novonor's bank debt and exchange it for Braskem shares, sources said. Braskem, Novonor and IG4 all declined to comment . The critical decision period coincides with Brazil's Unipar's reported attempt to purchase Braskem's U.S. polypropylene plants for about $1 billion. Made public last week, the bid lacks approval from key parties, including Tanure and IG4, according to sources. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data