Mahindra Satyam acquires SAP firm in Brazil

BANGALORE: IT services provider, Mahindra Satyam, has acquired majority stake in Complex IT, SAP consulting providers, in Brazil. The acquisition will focus on developing solutions for the rapidly expanding enterprise solutions market in Brazil.
Brazil is the second fastest growing geography globally for SAP AG. Software revenues for SAP AG grew 20% in the last year. The current spend on IT by companies in Brazil is approximately $70 billion, with $36 billion 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.
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, said Arvind Malhotra, global head head, Latin America & Strategic Accounts, Mahindra Satyam.

ARUSI SINGH
PGDM 2nd Sem