Kirk LaughlinFALLS CHURCH, Va. — CSC (NYSE: CSC) announced today that it has acquired VIXIA, a consulting and technology company headquartered in São Paulo. VIXIA is focused on providing software for core functions, business consulting services, and systems integration for financial institutions, and insurance firms in Brazil. The financial terms of the agreement were not disclosed.
The companies say the combination of CSC with VIXIA will offer to the market of Latin America a global portfolio of services and specific applications for financial services, along with a wide experience in the provision of services and deep knowledge of the local market. The acquisition places CSC in better position to support the goals of expansion of its multinational clients as well as to seek and win new business in this emerging market of financial services.
By acquiring VIXIA, a former partner of CSC, CSC incorporates a leadership team and professionals with extensive experience and significant relationships with insurance companies and local banks. With this local capacity, CSC increases its ability to meet the needs of this important emerging market, as an increasing number of companies and banks in Brazil and throughout Latin America seek to modernize their information technology capabilities.
“The union of forces with a global leader, with all the features that CSC provides to the financial services industry, will allow us to offer to customers and prospects a much broader set of solutions and services globally consolidated and specific to the sector,” said Geraldo Cavagnari, President, VIXIA, who along with Wagner Antunes, director of sales, will join CSC as managing directors in the financial services group in Brazil.
“Welcome VIXIA to our team of almost 91,000 CSC professionals around the world,” said Ray August, Chairman of CSC’s Financial Services. “The expansion of our business for the financial services industry in high-growth geographic regions, including Latin America, is a key initiative of our strategy, and the acquisition of VIXIA increases the ability of CSC to meet local and multinational clients operating in the region.”
For more information, visit www.csc.com/br.
About CSC
CSC is a leading global provider of business solutions and services based on technology. Headquartered in Falls Church, VA., USA, CSC has approximately 91,000 employees and revenues of $16.0 billion for the period of 12 months ended April 1, 2011. For more information, visit the company website at www.csc.com.
This is an interesting acquisition. I didn't know the South American giant had IT consultancy firms. In fact, all I knew about Brazil was related to coffee and sports. Well, there are some other things, like the carnival in Rio de Janeiro, which is an explosion on sound and colors. Anyway, if CSC decided to acquire the company, than they knew what they were doing.