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Peru, Colombia and Chile boost Tivit’s HispAm sales

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Peru, followed by Colombia and Chile, are the markets in Spanish-speaking Latin America where IT multilatina Tivit is growing the most, the group’s regional head Leonardo Covalschi told BNamericas.

Driven by an increased search for IT services outsourcing, Tivit’s sales in the Hispanic America region grew last year at a double-digit rate compared to the year before, according to Covalschi.

In the first six months of 2021, revenue picked up and grew “above double digits,” he said.

With the acceleration of digital transformation by companies due to the pandemic, the main corporate demands have been for cloud services (public, private and hybrid) and application modernization, Covalschi added.

Brazil-based Tivit previously said it expected cloud and digital services to account for over 50% of its revenue mix by 2022. By the end of 2020, these segments represented around 40% of the company’s sales.

The company also reported that cloud services grew 24% in revenue terms in 2020, with 25 new customers for this segment being added in the wake of accelerated digital transformation.

M&AS

In addition to organic growth, Tivit is also betting on acquisitions.

Tivit announced in November plans to spend around US$80mn on M&As in Latin America (including Brazil) by 2025 through its new investment arm Tivit Ventures.

Since then, Tivit Ventures has made six startup acquisitions under the goal of reaching 10 per year.

In the most recent deal, the company bought Lambda3, a São Paulo-based startup specializing in software development and agile methodologies. Values were not disclosed.

In a statement, Tivit said Lambda3 will remain an independent operation.

Lambda3 has 120 employees and serves clients such as Banco ABC, Fast Shop and Banco Carrefour, in addition to international customers.

“Outside Brazil, we are mainly targeting software-as-a-service and platform-as-a-service companies [for M&As],” Covalschi said.

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