StoneCo Ltd. Announces Sale of Linx and Related Software Assets to TOTVS for R$3.41 Billion

Reuters
Jul 22
<a href="https://laohu8.com/S/STNE">StoneCo</a> Ltd. Announces Sale of Linx and Related Software Assets to TOTVS for R$3.41 Billion

StoneCo Ltd. has announced significant divestments within its software segment, selling Linx and related software assets to TOTVS for an enterprise value of R$3.05 billion, plus a net cash position of R$360 million, totaling R$3.41 billion. The assets sold cover various sectors including education, retail, and healthcare, among others. This transaction is part of StoneCo's strategy to streamline operations and focus on core growth areas. Additionally, StoneCo has sold SimplesVet, a veterinary-focused software solution, to PetLove for R$140 million. The proceeds from these transactions will be utilized according to StoneCo's capital allocation framework, with detailed plans to be disclosed upon transaction closing.

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