Entering the market in Latin America
Arvato Financial Solutions, a subsidiary of Arvato, the international technology service provider, is acquiring an interest in Intervalor, one of the leading providers of financial services in Brazil. After taking over the Gothia Financial Group in 2013, the currently agreed interest in Intervalor is a further important step towards the consistent internationalisation of Arvato Financial Solutions businesses. Initially Arvato will be taking over 40 per cent of the shares in Intervalor with the option of a step-by-step increase in their share. The financial details of the transaction will not be published. Both parties have come to an understanding on this.
Intervalor is one of the big players in South America and has shown dynamic business development. The company functions with around 3,000 employees – from two locations in São Paulo, one in Rio de Janeiro and one in Recife. Since its foundation in 1999 it has developed into one of the largest and most successful financial services providers in Brazil. Its services are set out in a similar way to those of Arvato Financial Solutions. There is no geographical overlap, so this move will above all increase the international availability of these services.
Through the interest in Intervalor, Arvato is driving the internationalisation of its Business Information and Financial Services business areas further forward and will in future be able to offer integrated payment management solutions also in Brazil. Consequently any internationally active customers whose activities include dealings in South America can in future handle their receivables management through Arvato and draw on local experts on the spot, with their close familiarity of the legal situation there.
As Michael Weinreich, CEO of Arvato Financial Solutions and Member of the Arvato Executive Board, said, “By extending our business activities in Brazil we are reaching a further milestone in our dynamic course for growth. Together with Intervalor we will be opening up the market in Latin America and also offering our customers first-class service and intelligent solutions there.”
Luis Carlos Bento, CEO of Intervalor, added that, “This is a great step for Intervalor. We see the partnership with Arvato Financial Solutions as an excellent opportunity to further develop our business. We are really looking forward to working together in a trustworthy and cooperative partnership.”
More information is available at http://finance.arvato.com