First Data (NYSE: FDC), a global leader in commerce-enabling technology and solutions, today announced that it will acquire Software Express, a Brazilian-based leader in EFT solutions.
Founded in 1986, Software Express provides technology solutions to merchants of different sizes, including multi-acquirer EFT, multi-acquirer EFT POS, reconciliation, a payments gateway, and automated recurring payments, among other products.
Software Express is a well-known EFT brand in Brazil, providing its solutions to more than 100,000 merchants. This acquisition will enhance the position of the two companies on several fronts, starting with becoming the combined leader in electronic payments transactions and supporting all sizes of retail clients, cards schemes, financial institutions and telecoms. Software Express will continue to independently support its clients under its brand.
Henrique Ribeiro Filho, Software Express CEO, believes that the deal will bring opportunities to expand and accelerate the growth of Software Express, while reinforcing the culture of independent support to its clients. “Software Express is accredited by all acquirers and has a broad portfolio offering including EFT, recharge servers for prepaid phones, front-end processor software, and correspondent banking software, among other services,” he said. “Our clients will now benefit from First Data’s global expertise and knowledge, opening up additional possibilities for our clients, partners and employees.”
According to Gustavo Marin, Executive Vice President of First Data Latin America, the acquisition will be extremely positive for both companies. “This deal positions First Data as a provider of innovative and value-added solutions to retailers of all sizes, payments institutions and financial institutions. We will be able to expand the current Software Express portfolio within First Data’s global platforms, and in 2019, the two companies expect to process more than 15 billion transactions in Brazil,” said Gustavo.