Mahindra Satyam Takes Stake in Complex IT of Brazil
India’s leading tech services company Mahindra Satyam says it has taken majority stake in Complex IT, a SAP consulting company in Brazil. The terms of the association were not revealed. The announcement was made today, Feb. 15.
The move aims to focus on enterprise solutions market in Brazil. Mahindra Satyam and Complex IT will offer proprietary solutions to large manufacturing, financial and consumer services companies in Latin America.
Mahindra Satyam in Brazilian Market
“This combination of Complex and Mahindra Satyam strengthens our commitment to the Brazilian market, which is one of the fastest growing enterprise solutions markets. We look forward to expanding our market presence and offer global delivery capabilities to our customers,” said Arvind Malhotra, global head, Latin America & Strategic Accounts, Mahindra Satyam.
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According to Mahindra Satyam, the current spend on IT by companies in Brazil is approximately US$70B, with US$36B being spent on services and software. As Brazil gears up to host FIFA 2014 and the Olympics in 2016, it would only provide an increased impetus to an already rapidly growing IT services market, hopes Mahindra Satyam.
“The BRICS countries have the potential to achieve a leadership position in the global economy and we believe that Mahindra Satyam and Complex will contribute significantly to this strategic vision. The relationship with Mahindra Satyam will mean enhanced career opportunities for our team, and increased quality of services to our customers and partners,” said Antonio Rossi, chairman & CEO, Complex.
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Together, Complex IT and Mahindra Satyam would be well positioned to combine local expertise with ability to deliver large and complex projects, in a period of sustained profitable growth for both partners, says Mahindra Satyam.
In the picture above: (L to R) : Antonio Rossi, chairman & CEO, Complex, Manoj Bhat, sr. VP, head – Corporate Planning and M&A, Tech Mahindra, Arvind Malhotra, global head, Latin America & Strategic Accounts, Mahindra Satyam