Latin American e-commerce group MercadoLibre has acquired Argentine software firm Bvision, although financial details of the deal have not been made public
Under the deal, all 130 software professionals working at the company’s Argentine bureau will join MercadoLibre, while Bvision founder Guillermo Serra will gain a seat on the management board of the e-commerce firm.
Bvision’s official website states that it also has offices in the United States and Peru, although there is no information as to whether employees working there will join MercadoLibre.
Founded in 2002, Bvision develops software – mainly mobile apps – for wide-ranging industries, including telecom, technology and financial service firms. Furthermore, it offers to manage applications for large firms, and works on cutting-edge technologies such as Cloud.
Among its clients are the American banking giant Citibank, Spanish telecom firm Telefonica, Intuit and Level (3).
MercadoLibre chief technology officer Daniel Rabinovich said his company has embarked on an expansion drive in Latin America and that it is hoping to capitalize on Bvision’s technology expertise to produce more technology products for the region.
Faced with fierce competition from Amazon, MercadoLibre is doing all it can to expand its market share in Latin America. Recently, it launched its own logistic service and allied with start-up accelerators like Wayra.
“Bvision bolsters our capacity to produce better technology,” Rabinovich added. The e-commerce site employs 1,600 people across the region and boasts some 90 million users, with operations in just about every country in Latin America, from Argentina to Mexico and Chile to the Dominican Republic.
A former Microsoft Gold Partner for software development, Bvision was previously called Business Vision SA, but was later rebranded with an aim to explore markets in North America.