Wipro buys Brazilian IT services firm for $22.4 mn (Ld)

Bengaluru, July 14 (IANS) Global software major Wipro on Tuesday said that it is acquiring Brazil-based IT consulting and services firm IVIA Servicos de Informatica Ltda for $22.4 million (Rs 168.9 crore).

"IVIA provides IT solutions, including system development, maintenance, consulting and project management services to clients in diverse sectors like financial services, transportation, retail, healthcare, consumer goods and manufacturing in Brazil," the city-based tech firm said in a statement.

The 24-year-old Latin firm is headquartered in northeast Brazil, with offices in Fortaleza-Ceara, Recife-Pernambuco and Natal-Rio Grande do Norte.

Advertisement

"IVIA's local talent and our global expertise will help expand our footprint, set up delivery centres in the South American country, leveraging its workforce," said the outsourcing firm.

The Indian tech major has presence in South America with offices in Brazil, Mexico, Chile, Colombia and Costa Rica.

"We have a vision to grow operations in Brazil by bringing global experience to the local market and becoming a partner of choice as an end-to-end IT services provider," said the statement.

Advertisement

With 750 techies, IVIA develops solutions to improve and expand its customers' business by reducing costs, increasing productivity and promoting innovation.

"We will make strategic investments in the region as IVIA's acquisition will help us address the needs of the clients across multiple verticals," said Wipro's Latam head Mukund Seetharaman.

IVIA founder Alexandre Menezes said that Wipro's growing presence in the region, its digital transformation capabilities, global customer portfolio and deliver model will help the local talent and customers.

Advertisement

"We can deliver jointly to clients, transform communities and leverage information technology to empower people," Menezed added.

--IANS

fb/arm
{{}}

(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)