Linx (NYSE: LINX) announces the acquisition of PinPag. The group offers customized and disruptive installment solutions for retail services in different segments, with an outstanding leadership among dispatchers and driving schools.
The acquisition of PinPag is yet another step by Linx to reinforce the cross selling strategy of its fintech Linx Pay Hub products and services. The company's movement also brings new customers to Linx, including retailers, auto repair shops and driving schools.
"With the arrival of PinPag, we will strengthen our fintech Linx Pay Hub and expand its operations, directed mainly at the services sector. This move will also bring 17 thousand new customers to Linx. Soon, PinPag's innovative installment solutions will be available to the entire Linx customer base," celebrates Alberto Menache, CEO of Linx.
For the acquisition, Linx will pay a total of BRL 135.0 million in cash and, additionally, subject to the achievement of financial and operational goals, for the years between 2021 to 2022, it will pay the amount of up to BRL 65.0 million.
Founded in 2006, PinPag now has 90 direct employees in São Caetano do Sul and a branch in Porto Alegre.