October 16, 2019 / 11:53 AM / a month ago

Brazil software firm Linx agrees to buy 100% of SetaDigital for up to $8.8 mln - filing

SAO PAULO, Oct 16 (Reuters) - Brazilian software company Linx SA has agreed to acquire 100% of SetaDigital Sistemas Gerenciais Ltda for up to 36.8 million reais ($8.81 million), it said in a securities filing on Wednesday.

Under the terms of the deal, Linx will pay 28 million reais in cash and could pay 8.8 million reais more if financial and operating goals set for the period of 2019-2021 are met. Founded in 2005, SetaDigital expects a gross revenue pf 15 million reais for 2020.

$1 = 4.1783 reais Reporting by Gabriela Mello

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