Cielo enters agreement to acquire Merchant e-Solutions

A physical presence in Silicon Valley

Brazilian electronic payment solutions provider, Cielo, has entered into a definitive agreement to acquire US payment solutions provider, Merchant e-Solutions (MeS) (view press release). As part of the deal, Cielo has agreed to pay a consideration of USD 670 million at the closing of the transaction, subject to the satisfaction of certain closing conditions.

MeS offers solutions in traditional merchant acquiring, e-commerce and mobile payments, and currently processes around USD 14 billion annually from approximately 70,000 retailers, in partnership with around 250 financial institutions. Through the deal, Cielo intends to use MeS’s technology to improve back office automation and the efficiency of new product development. The deal will also provide the Brazilian firm with a physical presence in Silicon Valley.

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