Narayan AmmachchiCanada’s 20-20 Technologies has acquired Brazilian software solutions vendor Promob for an undisclosed price, gaining a significant foothold in Latin America.
With more than 350 employees, Promob runs offices in Argentina, Colombia, Peru, and Mexico, along with Brazil. Its technology platforms have been licensed by 80,000 professional users across the world.
“With our combined product portfolio, technology, and talent, we can accelerate our joint strategy to provide innovative solutions that designers, dealers, retailers, and manufacturers rely on to create amazing spaces for home and work,” said Mark Stoever, CEO of 20-20, in a press release.
Starting life as a cabinet manufacturer in 1987, 20-20 Technologies has now grown into a major player in software for computer-aided design, business, and manufacturing, developing a system for creating and producing interactive 3D animation over the web to help clients personalize their projects.
The Canadian company has about 500 employees and operates in 11 countries. In May last year, it was acquired by private equity firm Golden Gate Capital. At the time of acquisition, Golden Gate promised that it would expand 20-20’s operations through acquisitions.
“In getting to know the 20-20 team, it is clear that both of our companies share a customer-first focus, and I am convinced that the creativity and knowledge of the joint team will bring even greater benefits to our combined customer community,” said Edson Witt, CEO, Promob.
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