Brazilian software company Totvs has entered into an exclusivity agreement regarding negotiations to acquire Linx, a unit of payment company STNE Participações (Stone).
Linx is a technology company engaged in developing and providing easy-to-use, reliable and integrated software solutions.
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It is a player in the retail management software market with presence in e-commerce software solutions in Brazil, and serves its clients through an end-to-end platform.
The latest development follows Totvs’ withdrawal to pursue the purchase of Linx in February 2025.
Totvs had previously attempted to acquire Linx in 2020, but the deal was ultimately finalised with StoneCo.
Despite resuming negotiations, Totvs clarified that the parties involved retain full discretion to proceed or not with the transaction.
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By GlobalDataThe potential acquisition would still require definitive agreements, as well as regulatory and legal approvals, according to a filing by Totvs.
In 2024, Reuters reported that StoneCo received multiple nonbinding offers for Linx, but the company noted that the bids are “so far are below what it paid for the asset in 2020”.
At that time, 20 potential bidders signed non-disclosure agreements to gain access to sale information. Of these, six firms made non-binding offers.
The companies included Totvs and Canada’s Constellation Software.
In September 2024, Stone had reportedly appointed investment banks J.P. Morgan and Morgan Stanley to sell Linx.
Reuters reported that StoneCo, however, was dissatisfied with the six non-binding offers it had received for Linx.
