Infotech Lead India: Mahindra Satyam has bought a majority stake in Complex IT, a SAP consulting provider in Brazil.
Both the companies did not share financial details.
The strategic acquisition will enable Mahindra Satyam to increase its presence in Brazil. In addition, Mahindra Satyam will benefit from its global delivery capability in Latin America.
Brazil is the second fastest growing geography globally for SAP AG. Software revenues for SAP AG grew 20 percent in 2012.
In Brazil, the Enterprise Solutions market is growing significantly.
The current spend on IT by companies in Brazil is approximately $70 billion, with $36 billion being spent on services and software. FIFA 2014 and Olympics in 2016 in Brazil will further enhance the IT services market.
Mahindra Satyam will look at developing solutions for the expanding enterprise solutions market in Brazil.
Mahindra Satyam and Complex IT will be going to market with solutions for large manufacturing, financial and consumer services companies. This initiative marks another important milestone in offering
Arvind Malhotra, global head, Latin America & Strategic Accounts, Mahindra Satyam, says the combination of Complex and Mahindra Satyam strengthens commitment to the Brazilian market.
Antonio Rossi, chairman & CEO, Complex, says the BRICS countries have the potential to achieve a leadership position in the global economy.