Narayan AmmachchiBrazilian IT outsourcing firm Algar Tech has launched a software development center inside its expansive office campus in São Paulo, a move analysts say will position the company to cash in on the growing demand for software services in Latin America’s biggest economy.
According to reports, the domestic IT industry is growing despite the fact that Brazil’s economy is in doldrums.
Although Algar Tech’s São Paulo center is starting with just 20 professionals, including developers and engineers, the company says it will hire more people as its roster of clients expands. Operating for the past18 years, Algar Tech’s offerings include IT outsourcing, business process outsourcing, business intelligence solutions, big data analytics, mobile applications, and enterprise software service.
Algar Tech was small IT service provider until 2010 when it purchased software developer Synos Technologies. This acquisition bolstered its presence across Brazil. A subsidiary of Grupo Algar, Algar Tech says it serves hundreds of clients in sectors including government, healthcare, financial, education, and utilities.
In addition to this new center, the company has another Brazilian software factory in Belo Horizonte. Today, according to reports, it employs thousands of people at its delivery centers across Latin America, including locations in Chile, Argentina, and Colombia.
“The new software development unit meets Algar Tech’s expansion strategy in the state of São Paulo and strengthens business applications portfolio,” said Marco Aurelio Borges Matos, director of BPO operations and applications of Algar Tech.
In 2014, the company posted $199 million in annual revenue, a 44.6% increaces from the previous year. The company has not yet released its 2015 results.
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