B3 strikes its M&As counter once more with a BRL 620 million deal
- November 13, 2022
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On October 13, B3 closed the acquisition of Datastock, as part of its strategy to gain traction in businesses related to data and analytics. Less than a month later, the Brazilian stock exchange is moving its M&A counter again with a new transaction and under the same guidance.
This Thursday, November 10, B3 announced an agreement for the acquisition of Neurotech, a Brazilian company specializing in the creation of artificial intelligence, machine learning and big data systems and solutions.
The disbursement in this case will be much higher. While the purchase of Datastock was valued at up to BRL 80 million, today’s deal involves a check for BRL 620 million, in addition to an amount of up to BRL 523 million in earn-outs linked to the achievement of Neurotech’s performance goals in the next four years.
“The acquisition of Neurotech leverages the growth potential of the data and analytics business and strengthens our diversification strategy, contributing to growth beyond the Exchange’s core business,” said Gilson Finkelsztain, CEO of B3, in a note on the agreement.
Founded in 2002 by masters and doctors in computer science, mathematics and artificial intelligence, Neurotech owns a portfolio of analytical tools applied to the analysis of large volumes of structured and unstructured data in credit management, risk reduction, fraud, and sales and marketing.
The company originated at the Informatics Center of the Federal University of Pernambuco and was incubated at the Center for Advanced Studies and Systems of Recife (CESAR). The company has more than 320 employees, a base of more than 150 customers and a projected net revenue of between R$120 million and R$150 million in 2023.
In the statement, B3 highlighted that the incorporation of Neurotech dialogues with another acquisition carried out by the operation. In October 2021, the Brazilian stock exchange bought Neoway, from Santa Catarina, in a transaction whose total value involved the amount of BRL 1.8 billion.
“The integrated action with Neurotech and Neoway brings opportunities for synergies in revenue and expansion of the product mix, enhancing the development of combined solutions with high added value, in addition to a significant increase in customer capillarity”, highlighted B3, in the statement. .
In another inorganic move, B3 maintains a joint venture with Totvs, announced in July 2021. Named Dimensa and with a portfolio aimed at B2B offers in the financial sector, the operation, in which B3 initially invested R$600 million, has also been carrying out an acquisition agenda.