Brazilian services vendor Tivit has merged with Telefutura, a local call center operator, to create a nearly $350m outsourcing company.
The new firm, with some 18,000 workers, will keep the Tivit name. Tivit’s owner, Brazilian industrial group Votorantim, will own 72.1% of the new company, Telefutura will own another 15.5%, and Brazil’s Banco Patria will own the other 12.4%.
The Brazilian IT services market is largely geared toward domestic customers, including the many automobile companies and other manufacturers that have set up plants in the country. But the idea of offshore services delivered from Brazil has yet to take off.
The market is comprised of a number of local players such as Tivit, CPM, Politec, Paradigma, and Stefanini. IBM does a good share of the services work in the country, and EDS also has a decent Brazilian presence. Plus the Indian vendors are setting up shop in the country, with TCS and Satyam both having facilities in Brazil.