Chilean IT company Sonda has agreed to acquire its Colombian rival Compufacil Group for US$8 million in a deal that will make it the biggest IT services provider in the country.
This is the third major acquisition for Sonda in Colombia after it bought Quintec and Red Colombia in 2012 and 2010 respectively.
Founded over 25 years ago, Compufácil has delivery centers in just about every major Colombian city, including Bogota, Medellin, and Cali.
The Group consists of two units – Compufácil SA and Priceless Colombia SA. Both provide various technology services, including systems integration, data centers, and outsourcing.
Priceless has contracts to provide IT services to the country’s Judiciary Council and to Chinese multinational Huawei Technologies, according to Colombian media.
“They have a strong portfolio of top-tier customers in both private and public sectors,” Sonda stated in a statement.
Last year, Compufácil Group reported revenues of 116 billion pesos (US$40 million). The purchasing price could ultimately increase by as much as US$7 million if the Colombian firm reaches certain financial targets in the current financial quarter.
The acquisition is part of US$790 million that the company has set aside for investing over a three-year period that ends in 2018.
“Upon completion of this acquisition, Sonda will become one of the largest vendors in Colombia,” Sonda claimed in a note sent to the Chilean regulator.
Santiago-based Sonda has operations in most Latin American countries, and counts the region’s top energy and mining firms, Vale and Petrobras, among its clients.