By Reuters | Updated: 28 February, 2025
SAO PAULO, Feb 27 (Reuters) – Brazilian software company Totvs (TOTS3.SA) said on Thursday it has decided to withdraw from the competitive process to buy StoneCo’s (STNE.O) unit Linx, according to a securities filing.
Totvs did not provide further details on the decision.
Citing sources, Reuters reported that payment firm StoneCo was unimpressed by the six non-binding offers it had received so far for Linx, its software unit.
Earlier this year, Totvs said it was still studying whether to present a binding offer for Linx, which Totvs had tried to buy in 2020 before it ended with StoneCo.
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