SAO PAULO (Reuters) -Brazilian software company Totvs said on Friday it has resumed talks to acquire StoneCo’s unit Linx, signing an agreement to have exclusivity in the negotiations for a set period. The move comes after Totvs said in February that it had decided to withdraw from the competitive process to buy Linx, without providing […]
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Brazil’s Totvs signs exclusivity agreement in talks to buy StoneCo’s Linx
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SAO PAULO (Reuters) -Brazilian software company Totvs said on Friday it has resumed talks to acquire StoneCo’s unit Linx, signing an agreement to have exclusivity in the negotiations for a set period.
The move comes after Totvs said in February that it had decided to withdraw from the competitive process to buy Linx, without providing further details.
Totvs had earlier tried to buy software firm Linx in 2020 before Linx was acquired by StoneCo, a Brazilian company focused on payments.
“The parties retain full discretion to proceed or not with the transaction,” Totvs said in a securities filing on Friday, adding that a potential acquisition would still require the signing of definitive agreements, as well as regulatory and legal approvals.”
(Reporting by Andre Romani; Editing by Brendan O’Boyle)