Zup I.T. Serviços em Tecnologia e Inovação
2020
Why
Itaú agreed in 2019 to acquire all of technology consultancy Zup through staged purchases, assigning a R$575 million base value to the company. The first closing in 2020 gave Itaú control for approximately R$293 million; acquisitionValue is zero because those verified amounts are denominated in reais.
Impact
Zup added software engineering and legacy-system integration capabilities intended to accelerate Itaú's digital transformation and delivery of new customer functions. The company continued serving outside clients while contributing specialist talent and development methods to the bank's technology program.
Outcome
Itaú acquired further interests in 2023 and completed the final phase in March 2024, becoming Zup's sole shareholder. The staged structure converted an initial controlling stake into full ownership while allowing operational continuity during integration.