Linx buys Plugg.to in first acquisition as part of Stone

Linx buys Plugg.to in first acquisition as part of Stone

The São Paulo company Plugg.to specializes in integrating retailers’ products with virtual malls (marketplaces)

THE linx announced this Monday (13) its first acquisition as software platform for retail belonging to the holding Stone Co.parent company of the acquirer Stone.

In an event for employees, the company formalized the purchase of São Paulo company Plugg.towhich specializes in integrating retailers’ products into virtual malls (marketplaces).

The cash acquisition, whose value was not revealed, is the first of some negotiations that Linx is currently evaluating to expand its operations in new retail segments. As a result of the integration with Stone, the company expanded its software offering from ten to 16 retail segments.

This was Linx’s first acquisition after being bought by Stone, for R$ 6.7 billion, in November 2020. The disputed negotiation with Totvs and questioned by competitors such as Cielo, was approved by the Administrative Council for Economic Defense ( Cade) a year ago.

“We look at companies that have technology offerings with growth potential, and especially in new verticals,” says Gilsinei Hansen, director of operations for Stone Co.’s software division, when Value.

Founded in 2013, Plugg.to transacted BRL 1.3 billion in gross volume of goods (GMV) and earned BRL 10.8 million in the last 12 months, with annual growth of 30%, according to the executive. “We made the acquisition considering cash generation and revenue”, says Hansen. The acquisition brings Linx 1,900 retail customers integrated into 70 marketplaces.

With a team of 4,000 employees, most of the 5,500 employees in Stone’s software division, Linx generated revenue of R$ 327 million in the first quarter, a pro forma increase of 26.9% over the result obtained a year before.

Source: Value

Related post

Blackstone completes $6.12 billion acquisition of Crown Resorts

Blackstone completes $6.12 billion acquisition of Crown Resorts

Private equity giant Blackstone has completed the acquisition of Australian gaming group Crown Resorts Limited in a $6.12 billion deal that…
CSN confirms hiring of advisory services for the possible acquisition of Samarco

CSN confirms hiring of advisory services for the possible…

The company informs that “there is no binding fact or document that deserves disclosure”, but states that the financial advisory will…
Toro Investimentos, from Santander, buys consolidator Kokpyt

Toro Investimentos, from Santander, buys consolidator Kokpyt

THE bullthe investment platform of the Santanderjust bought 100% of the Kokpyta robo-advisor investment consolidator launched early last year by wealthtech…

Leave a Reply

Your email address will not be published.