Wipro has agreed to acquire Brazil-based IT consulting and services firm IVIA Servicos de Informatica for $22.4 million.
IVIA provides IT solutions, including system development, maintenance, consulting and project management services to clients in sectors like financial services, transportation, retail, healthcare, consumer goods and manufacturing in Brazil.
The 24-year-old Latin firm is headquartered in northeast Brazil, with offices in Fortaleza-Ceara, Recife-Pernambuco and Natal-Rio Grande do Norte.
“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,” Wipro said in a statement.
The Indian tech major has presence in South America with offices in Brazil, Mexico, Chile, Colombia and Costa Rica.
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 Wipro’s presence, digital transformation capabilities, customer portfolio and deliver model will help the local talent and customers.