Nuvini Group (NVNI) said Tuesday it signed a term sheet to acquire Munddi, a business-to-business software-as-a-service platform based in Sao Paulo, Brazil.

Financial terms weren't disclosed.

The acquisition is expected to close within 60 days, pending the finalization of agreements and fulfillment of customary conditions, the company said.

Nuvini also said this is one of four acquisitions that it plans to complete this year.

The company's shares were more than 4% higher in recent premarket activity.