Latest news with #Totvs
CNA
22-07-2025
- Business
- CNA
Brazil's Totvs agrees to buy StoneCo's Linx unit
SAO PAULO :Brazilian software company Totvs has agreed to buy StoneCo's Linx unit in a deal worth 3.05 billion reais ($547.90 million), it said on Tuesday, adding that it expects the move to strengthen its position in the retail segment. Totvs has shown interest in Linx since 2020, when StoneCo won a bidding war by paying 6.7 billion reais for the retail software developer. In April, Totvs entered exclusive talks with StoneCo to acquire the unit. Sao Paulo-traded shares of Totvs seesawed after the announcement, climbing 3.1 per cent early in the session before erasing gains and falling as much as 1 per cent. They were last flat, while benchmark stock index Bovespa gained 0.6 per cent. Totvs said in a securities filing that the transaction will be financed through its cash reserves and debt instruments yet to be arranged "under favorable market conditions". The deal requires approval from Brazil's antitrust watchdog. "With this acquisition, we will strengthen our position in retail, expanding our portfolio and reinforcing our ability to meet the demands of all types of retailers," Totvs CEO Dennis Herszkowicz said in a statement. In an interview earlier this year, Herszkowicz told Reuters the company was considering other acquisitions besides Linx, adding that none of the potential deals would rely on capital from divestitures. ($1 = 5.5667 reais)
Yahoo
22-07-2025
- Business
- Yahoo
Brazil's Totvs agrees to buy StoneCo's Linx unit
SAO PAULO (Reuters) -Brazilian software company Totvs has agreed to buy StoneCo's Linx unit in a deal worth 3.05 billion reais ($547.90 million), it said on Tuesday, adding that it expects the move to strengthen its position in the retail segment. Totvs has shown interest in Linx since 2020, when StoneCo won a bidding war by paying 6.7 billion reais for the retail software developer. In April, Totvs entered exclusive talks with StoneCo to acquire the unit. Totvs said in a securities filing that the transaction will be financed through its cash reserves and debt instruments yet to be arranged "under favorable market conditions". The deal requires approval from Brazil's antitrust watchdog. ($1 = 5.5667 reais) 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
Reuters
22-07-2025
- Business
- Reuters
Brazil's Totvs agrees to buy StoneCo's Linx unit
SAO PAULO, July 22 (Reuters) - Brazilian software company Totvs ( opens new tab has agreed to buy StoneCo's (STNE.O), opens new tab Linx unit in a deal worth 3.05 billion reais ($547.90 million), it said on Tuesday, adding that it expects the move to strengthen its position in the retail segment. Totvs has shown interest in Linx since 2020, when StoneCo won a bidding war by paying 6.7 billion reais for the retail software developer. In April, Totvs entered exclusive talks with StoneCo to acquire the unit. Totvs said in a securities filing that the transaction will be financed through its cash reserves and debt instruments yet to be arranged "under favorable market conditions". The deal requires approval from Brazil's antitrust watchdog. ($1 = 5.5667 reais)
Yahoo
18-06-2025
- Business
- Yahoo
Totvs, in talks to buy Linx, eyes other Brazil deals in 2025
By Luciana Magalhaes 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)
Reuters
18-06-2025
- Business
- Reuters
Totvs, in talks to buy Linx, eyes other Brazil deals in 2025
SAO PAULO, June 18 (Reuters) - Brazilian software company Totvs SA ( opens new tab is eyeing targets for acquisitions this year beyond StoneCo's (STNE.O), opens new tab 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 ( opens new tab, 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)
