BARUERI, Brazil, May 23, 2011 /PRNewswire/ -- CIELO
S.A.(BM&FBOVESPA: CIEL3; OTC: CIOXY),the leading merchant
acquirer and payment processor in Brazil, announces to the market the
acquisition, on this date, of 100% of the quotas representing the
capital stock of Braspag - Tecnologia em Pagamento Ltda.
("Braspag") through a subsidiary.
Founded in 2005, Braspag is known for innovation and the
development of online payment solutions and is the leading company
in payment processing for e-commerce in Brazil, with a market share of approximately
65% in its segment. Operating as a gateway, Braspag's platform
integrates online stores, financial institution sand acquirers, and
is responsible for capturing, routing and managing payment
transactions with cards, collection slip sand online debit. In
addition, Braspag consolidates the accounts receivable process of
Brazil's leading online stores,
offering them cost comprehensive range of services in the segment
of online transaction processing.
This acquisition strengthens Cielo's leadership in the online
payment segment in Brazil through
a significant presence in yet another link of the e-commerce value
chain. This presence guarantees a unique position for stimulating
and capturing the strong growth in this market.
Cielo will also expand its product portfolio with a more
comprehensive offering that, in addition to including other payment
methods such as collection slip sand online debit, provides
value-added services like financial reconciliation and anti-fraud
intelligence tools, further strengthening the relationship with its
clients.
Both companies will remain committed to meeting the needs of
their clients, maintaining the current relationship models. Braspag
will continue to provide services to clients that choose to use
other acquirers, while, for its part, Cielo will continue to work
in partnership with other gateways in the market to serve clients
who choose other solutions.
For further information please contact our investor relations
department:
Tel: + 55 11 2596 1701
ri@cielo.com.br
Investor Relations website: www.cielo.com.br/ir
About Cielo
Cielo S.A. is the leading merchant acquirer and payment
processor in Brazil, engaged in
merchant affiliations, management of the card acceptance network,
as well as the capture, transmission, processing and settlement of
credit and debit card transactions. Its cutting-edge technology
network enables it to operate with availability rate of 99.995%.
The company also has the most modern base of POS terminals in
Brazil, with average age of 1.7
year, and a chain of 1.1 million active affiliated merchants,
covering 98% of Brazil.
SOURCE Cielo S.A.