IT services firm Getronics NV GVKN.AS] has sold its Chilean operation to local services firm EFT Group for an undisclosed sum, as a part of its efforts to reduce its $250 million debt.
EFT employs some 55 people based out of its office in Santiago, of which 45 are IT engineers.
The combined company will create an operation that generates about $10 million in revenue.
EFT, which also has offices in Argentina and Peru, provides electronic transaction processing services to financial institutions. However, through the deal, it expects to expand these services into network management, infrastructure management and systems integration.
This is the latest restructuring of Getronics’ operations in Latin America, having announced in October that it was consolidating offices in Brazil, Argentina, Chile, Paraguay and Uruguay, and making Sao Paulo its regional headquarters.
Last month the company also announced plans to restructure its debt by raising E100 million ($116 million) in five-year convertible bonds. It also sold its shares in the South African-based CS Holdings Ltd for E2.6 million ($3.0 million), and agreed to sell its 49.9% stake in hardware distributor Pluz to Specialist Computer Holdings for an undisclosed amount.
This article was based on material originally published by ComputerWire.