Brazilian technology company Totvs shared that its joint-venture with financial exchange operator B3, Dimensa has reached an agreement to buy financial application developer Mobile2you for BRL 26.9 million.
Totvs said, in a statement to the market on Monday (31), that the acquisition aimed to expand Dimensa’s offer of products and services to customers and strengthen its position in the B2B technologies segment for the financial sector and fintechs.
READ ALSO: Brazil’s Totvs announces a BRL 300 million fund to invest in startups
This is Dimensa’s second acquisition since the beginning of 2022. Before, the company had purchased InovaMind, an artificial intelligence startup. Mobile2you is an application developer that offers solutions for companies interested in the digital financial services market.
“By integrating the back-office layer into the complete user journey experience, Mobile2you adds value to customers by offering digital financial products that generate traction for companies’ businesses”, notes the document published by Totvs.
READ ALSO: Sandbox takes majority stake in Brazil’s PlayKids in an equity-swap deal as edtech venture funding booms globally
The agreement also provides for the payment of additional amounts, if goals and conditions agreed upon in the coming years are reached. With more than 30 customers and 80 employees, Mobile2you recorded gross revenue of BRL 11 million in the last quarter of 2021.
(Translated by LABS)