Totvs sells RJ Participações stake for BRL 39 million
The Brazilian software firm divested its full 80% stake to Distribusion Tecnologia do Brasil.
Totvs concluded the sale of its entire 80% stake in RJ Participações to Distribusion Tecnologia do Brasil for approximately BRL 39 million. The company announced the transaction in a market filing on October 2, 2026. The final amount remains subject to contractual price adjustments.
The transaction was executed through its subsidiary Totvs Large Enterprise Tecnologia. RJ Participações develops management software for passenger transport companies. According to Totvs, the deal reflects an implied multiple of more than 31 times EV/Ebitda over the past 12 months.
The assets involved in the operation had been classified as available for sale since March 2025. Totvs stated that the divestment is part of its strategic plan to sharpen team focus and optimize capital allocation, concentrating on segments where it can operate as a trusted advisor.
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