Kirk LaughlinSonda SA, Chile’s largest IT provider, agreed to pay 66 million reais ($37.8 million) for Brazilian information technology company Telsinc, the Santiago- based company wrote in a regulatory filing dated April 24. Telsinc, was founded in 1994 and provides communications, virtualization and security services, and has business agreements with companies such as Cisco Systems Inc. and VMware Inc. It had revenue of 108 million reais last year, Sonda wrote.
“Given the company’s calling for inorganic growth and record of profitable acquisitions, we consider it good news for Sonda and expect to see a positive reaction in the stock price,” BCI Corredor de Bolsa SA wrote in a note today.
Sonda plans to buy three or more companies this year in Brazil, Mexico and Colombia for a total of about $200 million, Santiago-based newspaper Diario Financiero reported on April 23, citing the company’s chairman, Andres Navarro.
“We view this acquisition as positive,” Banco Santander SA analysts Carlos Herrera and Francisco Errandonea wrote in a note today to clients. “Sonda is delivering on its expansion program and it’s increasing its footprint in Brazil, a market that currently represents 34 percent of consolidated sales.”
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