Business · Companies · 4 hrs ago
Itaú agrees to buy Brazilian AI startup NeoSpace for R$2.925 billion
Itaú agreed to buy Brazilian AI startup NeoSpace for R$2.925 billion.
The deal covers all of NeoSpace’s shares, and the company has been working with the Brazilian bank for almost two years.
NeoSpace has developed AI models using the bank’s own data, building on their existing partnership.
Itaú says the technology has helped with credit, customer relationships and fraud prevention, and could support more personalized services.
The purchase aims to expand Itaú’s use of generative AI across its business and customer services.
Regulators in Brazil must approve the deal, including the competition authority and the central bank.
Payment is planned in stages over five years, with the first instalment due when the deal closes.
Itaú Unibanco agreed to acquire all shares of Brazilian artificial intelligence startup NeoSpace for R$2.925 billion.
The bank said the deal is intended to expand its technology capabilities and speed up the development of generative AI solutions.
The acquisition still requires regulatory approval, including from Brazil’s competition authority and central bank.
Itaú and NeoSpace have worked together for nearly two years, developing AI models trained on the bank’s own data.
The purchase price will be paid in stages, with some payments deferred over five years.
- Who
- Itaú Unibanco and NeoSpace A.I. Technologies, a Brazilian AI startup.
- What
- Itaú agreed to acquire 100% of NeoSpace’s shares for R$2.925 billion.
- When
- The agreement was reported on October 26, 2026.
- Where
- Brazil. The sources do not state where the companies are based.
- Why
- Itaú aims to expand its technology capabilities and accelerate generative AI solutions for its business and customers.
This story does not have two clearly opposing sides.
NeoSpace developed AI models trained with data from Itaú during its partnership with the bank.
Itaú announced an agreement to acquire all shares of NeoSpace.
- Purchase price
- R$2.925 billion
- Stake to be acquired
- 100% of NeoSpace’s shares
- Payment period
- Some payments will be deferred over five years
- Regulatory approvals
- Brazil’s competition authority and Central Bank
- Partnership
- Nearly two years