Mahindra Satyam, a leading global consulting and IT services provider, today announced the acquisition of a majority stake in Complex IT, one-of-the largest SAP consulting providers, in Brazil.
This acquisition will focus on developing solutions for the rapidly expanding Enterprise Solutions market within Brazil. Mahindra Satyam and Complex IT will be going to market with proprietary solutions for large manufacturing, financial and consumer services companies in the market. This initiative marks another important milestone in offering Mahindra Satyam’s customers a global delivery capability in Latin America.
“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.
“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
Brazil is the second fastest growing geography globally for SAP AG. Software revenues for SAP AG grew 20{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} in the last year. 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.
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.
