Narayan AmmachchiStefanini has merged with a local engineering and technology services provider IHM Engenharia in a deal that will significantly expand the Brazilian IT firm’s service offering.
Headquartered in Belo Horizonte, IHM serves several segments — mainly manufacturing and industrial sectors — and has offices in major Brazilian cities such as São Paulo, Vitória, Recife and Betim.
Stefanini said that the merger will widen its customer base in the industrial segment, one of the fastest growing verticals in Brazil.
Founded in 1994 as a system integrator, IHM provides engineering, automation and technology services to companies in mining, metals, chemicals, paper, agribusiness, food, automotive, power, and oil & gas. It counts Vale and and the giant steel maker ArcelorMittal among its clients.
Stefanini will first concentrate on bolstering IHM’s operations in Brazil and then help it expand overseas a year down the road.
With delivery centers in 34 countries, Stefanini is one of a few Latin American technology firms with a global footprint. Recently, it expanded operations to India and Malaysia.The software maker posted US$870 million in annual revenue for 2014, an increase of 11% from the previous year.
IHM’s CEO Augusto Moura stated that his company had long dreamed to expand overseas. Now, he said, that dream will be realized.
IT infrastructure outsourcing and application development make up a large chunk of the services in Stefanini’s portfolio. This merger will bolster the company’s system integration and strategic staffing services, which it launched last year after acquiring the American staffing firm RCG Global Services.
The majority of IHM’s clients are in electrical and industrial sectors, and the company says it has carried out more than 800 projects in the past five years.
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