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Benzinga
Benzinga
Business
Shivani Kumaresan

MercadoLibre Acquires Chilean Payment Services Provider Redelcom For Undisclosed Sum

  • MercadoLibre Inc (NASDAQ:MELI) has acquired Redelcom, a Chilean company operating since 2010 as a payment services provider, for an undisclosed sum. In October 2019, Redelcom began offering point-of-sale (POS) terminals with the latest technology to retailers.
  • Through the deal, Mercadolibre seeks to consolidate its value proposition in Chile and enhance the growth of its multiple payment tools and digital financial solutions.
  • Redelcom will join the Mercado Libre and Mercado Pago ecosystem.
  • MercadoLibre expects Redelcom to further strengthen its operation in Chile in the payment methods sector.
  • MercadoLibre held $1.42 billion in cash and equivalents as of September 30, 2021.
  • Price Action: MELI shares closed higher by 3.10% at $1,180 on Tuesday.
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