Itaú Unibanco announces acquisition of software assets from NCR Brasil

On Thursday (4), Itaú Unibanco announced the acquisition of certain software assets from NCR Brasil focused on the retail industry, including the Scope Electronic Funds Transfer (TEF) solution — a technology that facilitates electronic payments in commercial establishments.

NCR Brasil is specialized in expanding self-service financial access for banks and consumers.

The acquired operations will be transferred to a new company that will be part of the Itaú Unibanco conglomerate, the bank said in a statement, without disclosing the value of the transaction.

According to Itaú, the acquisition aims to expand its portfolio of products and services for retail companies and to strengthen and grow its commercial relationship with clients using the TEF solution.

The acquired business — including existing contracts and a team of around 80 employees — will be maintained to ensure continuity of service and to enhance the value offered to retail clients, the bank said.

The transaction is still subject to regulatory approvals and other customary conditions for similar operations.

Source: Forbes 

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