EVERTEC Closes Popular Transaction and BBR Acquisition
EVERTEC, Inc. (NYSE:EVTC) ("Evertec" or the "Company") today announced that the Company has closed the previously announced Popular Transaction and the BBR, SpA ("BBR") acquisition.
As part of the Popular Transaction, the Company modified and extended the main commercial agreements with Banco Popular of Puerto Rico ("BPPR") and its parent, Popular, Inc. (NASDAQ:BPOP) ("Popular"). As previously disclosed, the new agreement includes a 10-year extension of the Merchant Acquiring Independent Sales Organization Agreement (the "ISO Agreement"), a 5-year extension of the ATH Network Participation Agreement and a 3-year extension of the Master Services Agreement ("MSA"). The ISO Agreement, which s
