Brazil’s TOTVS creates joint venture with Itau Unibanco

2022.04.13 00:31

(Reuters) – Brazilian software company TOTVS said on Tuesday its board approved the creation of a joint venture with Itau Unibanco to be called TOTVS Techfin, aiming to operate a digital platform of financial services for small and medium companies.

In a securities filing, the company added that Itau Unibanco undertook to pay TOTVS up to 860 million reais ($184.02 million) for the joint venture’s shares.

($1 = 4.6735 reais)

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