Mergers & Acquisitions ·
Itaú Unibanco agrees to acquire NeoSpace AI startup for BRL 2.93B
ITUBItau Unibanco Holding S.A.
Itaú Unibanco Holding S.A. entered into a Share Purchase Agreement to acquire all shares of NeoSpace A.I. Technologies Ltda., a Brazilian artificial intelligence startup specializing in foundational models trained on large-scale datasets. The transaction, valued at BRL 2,925,000,000.00, includes an installment payable at closing with the remainder deferred over five years. Closing is subject to approvals from the Brazilian Antitrust Authority (CADE) and the Central Bank of Brazil. NeoSpace’s management will remain autonomous, and its current team will be retained. The acquisition aims to enhance Itaú's proprietary AI capabilities and expand generative AI applications across its financial products. Itaú Unibanco Holding S.A. operates as a major multinational banking and financial services corporation based in Brazil.