Logicalis will pay US$19.1 million upon completion of the acquisition, while the remaining US$1.1 million will be paid out based on Coasin achieving a stipulated profit target for the 12 months preceding June 30, 2018. This target was not publicly disclosed.
“This is an extremely important move for our regional strategy,” said Rodrigo Parreira, CEO of Logicalis in a press release. “In addition to its position as a systems integrator in the financial and mining sectors, Coasin has the potential to become Logicalis’ service export platform, to meet the needs of customers in Latin America.”
Logicalis has been present in Chile for the past 10 years, but this acquisition widens its footprint in the country substantially.
With annual revenues of US$85 million, Coasin provides IT services to businesses in the mining, financial services, and retail sectors. The Chilean IT company provides business management and technology support services from its operations in Santiago and Peru.
Coasin also provides networking and point-of-sale solutions for mining companies. Logicalis was likely attracted by Coasin’s deep-pocketed clients in Chile’s mining sector, and it says those capabilities will help it serve its existing multinational clients better and extend its own offerings to new customers.
With an annual turnover of approximately US$1.5 billion, Logicalis has a number of operations around the world, including Africa, Asia, Europe, and North America.