Cielo SA, a payments company based in Brazil, announced July 2 that it is buying a U.S. company, Merchant e-Solutions.
MeS offers technology for merchant acquiring, e-commerce and mobile payments. It handles more than $14 billion in transactions each year, according to its press release. Cielo agreed to pay $670 million for the Redwood City, Calif., company. It did not say in its announcement when it expects the deal to close.
Cielo plans to use MeS' technology to improve process automation, as well as add flexibility and agility in designing new products and reducing their time to market. The acquisition would also give Cielo a presence in Silicon Valley.