Brazil's Cielo to pay $670 mln for U.S. company

July 2 Mon Jul 2, 2012 6:56am EDT

July 2 (Reuters) - Cielo, Brazil's largest card payment processor, agreed to pay $670 million for Merchant e-Solutions, a U.S. provider of card payment processing solutions, according to a securities filing on Monday.

The payment will be made in cash once the transaction is sealed between both parties, Cielo said in the filing. Merchant e-Solutions had revenue of $124 million in the 12 months ended May 31.

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