Narayan AmmachchiBrazilian IT firm Stefanini acquired its Italian rival Solve.IT, gaining a strong foothold in the European country.
Solve.IT is based in Turin and employs around 200 professionals. The firm provides a wide range of IT services, including consulting, app development and IT infrastructure management.
The company was founded in 2003, but it only gained prominence in the Italian IT services industry around five years ago, when it began acquiring smaller rivals such as Arxis. These acquisitions brought in new skills and specializations, according to Stefanini.
Solve.IT will soon be folded into Stefanini’s European operations, which are headquartered in Brussels. However, the top executives of Solve.IT, including founder Giuseppe Arietti, will work for the Brazilian firm now.
“Our model is to give autonomy to the founders and the actual management in order to keep the cultural aspects of this successful Italian company,” said Farlei Kothe, CEO of Stefanini EMEA. “The relationship between Solve.IT within the Italian market and CIOs is very important.”
Solve.IT, most of whose customers operate in sectors such as manufacturing, transport, food and pharmaceuticals, claims to have 100% customer satisfaction. The company adds that it has a history of all its customers renewing their contracts.
Sao Paulo-based Stefanini, whose annual revenue exceeded US$1 billion in 2021, was acquired more than a dozen firms since 2020, when it unveiled an exclusive budget to purchase smaller competitors in the IT services sector.
This acquisition is part of Stefanini’s strategy to expand its presence in Europe, where the company already has operations in France, Portugal and Spain.
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