Bradesco acquires Scopus, restructures Shopfacil

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Wednesday, March 6, 2002

Brazilian bank Bradesco (NYSE: BBD) has acquired 75% of the shares in IT and e-payment developer Scopus from its non-financial arm Bradespar for 37mn reais (US$15.6mn), local news service Computerworld reported.

Scopus will now develop online products and services exclusively for Bradesco. The fate of online mall Shopfacil (www.shopfacil.com.br) - launched on November 12, 2000 by Scopus - remains unknown at this point.

Shopfacil will be restructured, according to Bradesco Internet director Candido Leonelli, who said the mall would continue to operate as it is deemed strategic by Bradesco.

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Bradesco has four million online banking clients and is Brazil's largest private bank in terms of assets.