LatAm Tech M&A Report: September 2026

In September 2026, Valio Ventures tracked 39 tech transactions in Latin America: 19 M&A deals and 20 investment rounds. M&A activity rose 27% from August. LatAm buyers led 79% of acquisitions, while three of the four foreign acquirers bought established software or IT services businesses. Brazil concentrated 24 of the 39 deals, Argentina ranked second with 6, and Fintech led all verticals with 12 deals.

How many tech M&A deals closed in Latin America in September 2026?

Tech M&A in Latin America recorded 19 transactions in September 2026, up from 15 in August. The monthly count sits within the range of 10 to 25 deals recorded since September 2025, below the 25 transactions of September 2025.

The largest disclosed deal of the month was Telecentro’s acquisition of iPlan for USD 260M, which adds a fiber operator with a strong corporate client base to one of Argentina’s main connectivity providers. Most transactions in the segment did not disclose a value: only 4 of the 19 deals published a price.

Who is buying tech companies in Latin America?

Regional buyers drove the month. LatAm acquirers were behind 15 of the 19 deals, and 13 of those were domestic transactions. The two intra-regional cross-border deals both targeted Argentine companies: Brazil’s Unico ID acquired VALIDA, a biometric identity and anti-fraud provider, and Chile’s Ticketplus acquired Autoentrada, a ticketing platform operating in 18 provinces.

Foreign acquirers accounted for the remaining 4 deals: Banyan Software and Vesta Software Group from Canada, Dexian from the United States and Gefran from Italy.

What are foreign acquirers looking for in LatAm software and IT services?

Three of the four foreign acquisitions targeted established software or IT services businesses, and each one shows a specific acquisition logic.

Banyan Software and ITG (Brazil)

Banyan Software, a Canadian buy-and-hold acquirer of vertical market software, bought ITG, a provider of regulatory and financial software for Brazil’s insurance market founded in 1986. It is Banyan’s second insurance software acquisition in Brazil. ITG keeps its brand and operational autonomy, and its co-founder remains as CEO.

Vesta Software Group and Zoo Logic (Argentina)

Vesta Software Group acquired Zoo Logic, an ERP and point-of-sale provider for apparel and retail founded in 1993. The company serves more than 5,500 businesses in Argentina and employs more than 180 professionals. It is Vesta’s first acquisition of a company headquartered in Argentina and its thirteenth investment in Latin America. Zoo Logic keeps its identity, team and operational autonomy, and Vesta points to further acquisition opportunities in the country in the coming months.

Dexian and Rox Partner (Brazil)

Dexian’s acquisition of Rox Partner, its first outside the United States, follows a different route. Rox Partner is a São Paulo data, automation and AI consultancy founded in 2019, and the deal strengthens Dexian’s nearshore delivery capacity from Brazil.

Across these three deals, the common thread is niche market leadership, embedded customer relationships and deep domain knowledge. The fourth foreign deal followed an industrial logic: Gefran acquired NOVUS Automation for an enterprise value of USD 42.2M, combining its sensor technology with NOVUS’s Industrial IoT and process-control solutions.

Which countries led LatAm tech deal activity in September 2026?

Across M&A and investments, Brazil concentrated 24 of the 39 transactions (61.5%), with 15 acquisitions and 9 investment rounds. Argentina ranked second with 6 deals (15.4%), followed by Colombia and Chile with 3 deals each (7.7%), all of them investment rounds. Mexico, Costa Rica and Uruguay recorded one deal each.

Argentina’s position came mainly from M&A: three of its four acquisition targets were bought by companies from outside the country, from Brazil, Canada and Chile.

Which tech verticals attracted the most deals?

Fintech led all verticals with 12 deals (30.8%), and two-thirds of them focused on credit and capital markets infrastructure, including B3’s acquisition of a 60% stake in CRDC and Celcoin’s acquisition of VERT Capital.

HealthTech and Cybersecurity followed with 4 deals each, through different paths. All HealthTech deals were investment rounds, half of them in AI-driven clinical and patient-management platforms. Cybersecurity activity came mainly through M&A, led by a merger that combines two Brazilian security providers into an end-to-end platform with expansion plans across Latin America and North America.

What were the largest tech investment rounds in September 2026?

The 20 investment rounds of the month were led by Kapital, which raised USD 125M in equity and debt as an extension of its Series C, lifting the Mexican AI-powered business bank’s valuation above USD 1.3B. Other large rounds included:

• A5X (Brazil): approximately USD 70.2M in a Series D led by Morgan Stanley, Goldman Sachs and Kaszek, to build a derivatives exchange.
• Dr.Consulta (Brazil): USD 30M in a late-stage round led by the World Bank Group.
• NG.CASH (Brazil): USD 15M in a strategic round led by Blockchain Capital.
• Certuma (Argentina): USD 10M in a seed round led by 8VC for its clinical AI copilot.

The full deal-by-deal breakdown of all 19 acquisitions and 20 investment rounds is available in the report below.

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