M&A advisory services in Uruguay

Uruguay's M&A market for technology businesses benefits from the country's stable legal environment, developed holding-company infrastructure and a track record of landmark exits - led by dLocal's public listing and PedidosYa's acquisition.

Pomelo, Scanntech and Infocasas have attracted PE sponsors and strategic acquirers from Europe, the US and across Latin America, with Uruguay's free trade zone framework and treaty network shaping deal structuring options.

Whether a business is bootstrapped or venture-backed, Flow runs lean, KPI-driven sale processes: buyer preparation, identification of PE and strategic acquirers from our network, and end-to-end deal management through to close under the DGI and commercial registry mechanics that govern Uruguayan exits.

Uruguay tech M&A deals in the last 12 months

$22M

Uruguay median tech M&A valuation

Uruguay median tech M&A revenue multiple

$22M

Uruguay biggest tech acquisition in the last 12 months

Selling your tech company in Uruguay

Uruguayan M&A follows Latin American mid-market conventions with country-specific overlays around the free trade zone framework and Uruguay's role as a regional holding-company jurisdiction.

Completion accounts dominate

Uruguayan private M&A is predominantly completion-accounts based. Locked-box has limited adoption. Closing-day mechanics typically include estimated-then-adjusted purchase price.

W&I insurance is uncommon

W&I insurance is uncommon in pure-Uruguayan deals. Cross-border deals at the offshore-parent level use W&I more commonly with standard premium structures.

Comisión de Defensa de la Competencia review

Uruguay's competition authority reviews transactions above the relevant turnover thresholds. Most pure-tech tuck-in deals don't trigger.

Capital gains for founders

Uruguayan individuals are taxed on share disposal gains at favourable rates (often 12% IRPF on capital gains for unlisted shares). Free trade zone holding structures provide additional planning options.

Holding-jurisdiction considerations

Uruguay's role as a regional holding-company jurisdiction means many cross-border Latin American exits involve Uruguay structures - particularly for Argentine-origin assets. Tax treaty network and the free trade zone framework shape these mechanics.

Cross-border tax considerations

Most material Uruguayan tech exits involve offshore (Delaware) holding entities or Uruguayan free trade zone structures. Uruguayan source taxation rules can apply to sales deriving substantial value from Uruguayan assets.

Recently acquired tech companies in Uruguay

Biggest M&A recently in Uruguay was a $22M acquisition of Brinta by Vertex in May 2026.

See all M&A deals in Uruguay

	Logo		HQ	Description	Buyer
May-26		Brinta		Brinta is a Mexico City-based tax compliance platform tailored for Latin American markets including Mexico, Brazil, and Colombia. The service automates VAT calculations, e-invoicing, reporting, and payments through API integrations with ERP systems. Brinta handles local regulations like SAT and Nota Fiscal. Founded in 2022, it processes transactions for e-commerce and SaaS companies operating regionally.	Vertex	$22M	-

Who is buying tech companies in Uruguay?

Vertex, Flokzu and Blend360 are the most active acquirers in Uruguay.

See all acquirers in Uruguay

Logo		Description	Key acquisitions
	Vertex	Vertex Inc is a provider of tax technology and services. Its software, content, and services help customers stay in compliance with indirect taxes that occur in taxing jurisdictions all over the world. It provides cloud-based and on-premise solutions to specific industries for every line of tax, including income, sales, consumer use, value-added, and payroll. The company offers solutions such as tax determination, Tax Data Management, document management, and compliance and reporting, among others. The company derives revenue from software subscriptions.	BrintaEcosioRyan (Tax Capabilities unit)+1	1
	Flokzu	-	INTEGRADOC	1
	Blend360	Blend360 is a data science and AI services firm that integrates technology with human expertise for client projects. Headquartered in Charlotte, North Carolina, the company delivers analytics, machine learning, and consulting for industries like finance and healthcare. Blend360 partners with Fortune 500 clients to implement AI-driven transformations and operational improvements.	Montevideo LabsnuvuFutureproof+1	1
	Minsait Payments	Minsait Payments is a payment processing specialist offering card issuing, acquiring, and transaction services across Latin America. Based in Spain with operations in Mexico and Peru, it provides platforms for EMV chip cards, contactless payments, and digital wallets integrated with Visa and Mastercard networks. The company supports banks and fintechs in modernizing payment infrastructures.	TotalnetPecunpay	1
	UniTeller Financial Services	UniTeller Financial Services is a remittance provider connecting immigrants to families in home countries through cash pickup, bank deposits, and digital wallets. Operating as a subsidiary of Mexico's Grupo Financiero Banorte, it maintains a payment network spanning over 80 countries with 200,000 locations worldwide. Services facilitate transfers from the United States and other regions to Latin America, Asia, and Africa, emphasizing security and reliability backed by its parent bank's infrastructure.	MORE Payment Evolution	1
	Sparq	Sparq is a software engineering firm that designs, develops, deploys, and maintains custom digital applications, products, and user experiences. Headquartered in Tel Aviv, the company supports enterprise clients with full-stack solutions in web, mobile, and cloud technologies across industries like fintech and e-commerce.	OctobotAmplify Consulting PartnersKingsmen Software	1
	Hyperclear Global Investments	Hyperclear Global Investments is a Mauritius-headquartered technology holding company with offices in South Africa, Uruguay, and the United Kingdom. It manages a portfolio across three verticals: Hyperclear Tech for performance-enhancing software, Hyperclear Ventures for early-stage startups, and Hyperclear Capital for alternative funding. Investing in over 20 companies since 2015, the firm deploys capital into AI, fintech, and productivity tools generating combined revenues exceeding $50 million. Its portfolio includes platforms streamlining client operations in Africa and Europe, emphasizing scalable tech for business efficiency.	FlokzuScriptexPrincipa	1
	Very Good Ventures	Very Good Ventures is a Larkspur-headquartered software design and development firm specializing in Flutter for cross-platform apps. It collaborates with global enterprises and startups to launch and scale mobile applications across platforms.	CreateThrive	1
R	Rimas Entertainment	Rimas Entertainment is a San Juan-based record label specializing in Latin trap and reggaeton artists. The Puerto Rican company manages talents like Anuel AA and Karol G, distributing through Sony Music Latin. Rimas handles recording, promotion, and touring for urban music acts across streaming platforms.	Dale Play Records	1

Public tech companies in Uruguay

dLocal is Uruguay's largest publicly listed tech company, with a market cap of $3.6B.

See all public companies in Uruguay

Logo		Description	Sectors
	dLocal	DLocal Ltd is focused on making the complex simple, redefining the online payment experience in emerging markets. Through its technology platform, One dLocal, the company enables world-wide enterprise merchants to get paid (pay-in) and to make payments (pay-out) online in a safe and efficient manner. The company earns revenue from fees charged to merchants in connection with payment processing services for cross-border and local payment transactions. The company's geographical segments include Latin America and Non-Latin America with a majority of its revenue being generated from Brazil in Latin America region.	Payment Service ProvidersPayment Infrastructure+1	$12.24	+12.7%	$3.6B	$2.7B	2.1x

Why Flow Partners as your M&A advisor

We operate across four fundamental principles that over the years enabled us to successfully advise many Uruguayan companies.

Access to relevant buyers

We have extensive network and direct access to world's most prominent financial and strategic buyers, cultivated through years of successful M&A track record across bulge bracket investment banking.

No corporate red tape

We run lean deal processes, without BS, unnecessary time-wasting efforts and corporate inefficiencies. Our approach values candor, transparency and high-impact work to make sure great deals get done.

Thorough preparation

KPI-driven storytelling is more art than science. We have unmatched understanding of digital businesses and are experts in building sharp equity stories that present your business in a clear, concise manner.

Optimize value, not valuation

Valuation is only one side of the medal. We help creating attractive and efficient transaction structures that bridge incentive gaps between sellers, buyers and management teams.

We provide M&A advisory services across Uruguay and beyond

Sector expertise

Explore our M&A advisory offering across a variety of tech sectors in Uruguay.

Software

Vertical and horizontal SaaS, AI-native software products, infrastructure SaaS, cybersecurity

AI & ML

Foundation models, AI applications, AI infrastructure, semiconductors, AI consulting

Fintech

Neobanking, online payments, fintech infrastructure, lending platforms, wealth tech, online brokerage, vertical FS software

Consumer internet

Consumer software subscription platforms, edutech, online content, social networks, online dating

Digital media

Streaming platforms, mobile and console gaming, content distribution, digital publishing, VR & AR

E-commerce & marketplaces

Consumer and B2B marketplaces, inventory-based e-commerce, classifieds, lead generation platforms

Consumer products

Direct-to-consumer (D2C) brands, consumer electronics, smart home devices, lifestyle products

Mobility

Ridesharing, micromobility, food delivery, logistics tech, autonomous tech, EV charging infrastructure

Digital health

Digital therapeutics, telemedicine, mental health solutions, EHR and practice management, vertical healthcare SaaS

Industrial technology

Industry 4.0 solutions, 3D printing, climate tech, industrial IoT, robotics, smart manufacturing

Digital infrastructure

Data centers, cloud infrastructure, edge computing, network security, vertical infrastructure SaaS

IT services

Software development and testing, digital transformation, cloud services, advertising agencies, IT support services

Selected case studies

We've closed sell-side and buy-side transactions across European, US and emerging-market tech.

Our M&A track record spans strategic exits to corporate acquirers, PE buyouts, and cross-border deals where regulatory and structuring complexity actually matters.

See all case studies

We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.

Recently completed M&A advisory projects

Selected M&A transactions and prior deal experience.

M&A

Polish publicly listed diversified industrial firm

M&A

German email marketing software platform

M&A

German software testing provider

M&A

Leading provider of testing, inspection, and certification services

M&A

Spanish neobanking platform for Gen Z and Millennials

M&A

Online price comparison and booking platform for rental cars

M&A

Digital testing, cybersecurity, content and digital forensics provider

M&A

Online casual dating platform for curious individuals

M&A

European DAM software provider

M&A

$3bn acquisition by Blackstone. Family of online dating brands (Badoo, Bumble, Chappy, Lumen).

M&A

€135m acquisition by Takeaway. Leading B2B online food delivery platform in Israel.

M&A

€80m acquisition by Zur Rose. Online e-commerce platform for pharmacy, beauty and wellness.

M&A

$200m acquisition by EMK. World's largest data collection and transformation platform.

M&A

Acquisition by ProSiebenSat.1 / General Atlantic. Online marketplace for household products and services.

M&A

€300m acquisition by Oakley Capital. Leading European online matchmaking platform.

M&A

Acquisition by Axel Springer. Leading Israeli online classifieds platform (jobs vertical).

M&A

$800m acquisition by Adobe. Marketplace for royalty-free images, graphics and HD videos.

M&A

€80m acquisition by Lifull. Spanish vertical search engine for real estate, cars and jobs.

M&A

Acquisition by Oakley Capital. Italy's largest online car insurance, gas and electricity brokerage.

Strategic Advisory

Strategic advisory. Cashless mobile taxi app connecting passengers to nearby taxis.

M&A

Acquisition by IAC. Digital social media platform for Q&A.

M&A

$228m acquisition by Axel Springer. Israel's leading classifieds and advertising portal.

M&A

Acquisition by Quant. Turkish membership-based daily deals site.

M&A

€320m acquisition by Bonnier. Pay television company across the Nordic region.

Minority Acquisition

€290m minority acquisition by News Corp. German direct broadcast satellite Pay TV (DACH).

M&A

€3.2bn acquisition by ProSiebenSat.1. European media group (TV, radio, print).

M&A

€3.1bn acquisition by KKR and Permira. German mass media and digital company.

Got questions?

Schedule a call ordrop us an email to learn more about our CFO-as-a-service, capital raising and M&A advisory offering.

Unlike traditional M&A advisors, we truly understand tech businesses and the unique challenges they face. Our investment banking background combined with deep sector expertise allows us to build compelling equity stories and navigate complex transactions.

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M&A advisory services in Uruguay