Narayan AmmachchiStefanini has reported a revenue of US$1 billion in 2021, an increase of more than 20% compared to the previous year, after the Brazilian IT firm made the most of the remote working model during the pandemic.
The year 2021 “was the best of the last 10 years” Marco Stefanini, founder and CEO of the Sao Paulo-based company, stated.
The rise in revenue was largely due to the remote-working arrangements, and a dozen start-ups it acquired across 2020 and 2021.
Remote working alone pushed up productivity by as much as 10%, according to the company’s statement.
Stefanini has acquired as many as 10 smaller competitors since 2020 when it set aside US$108 million for the purpose. The IT provider is hopeful of achieving 25% growth during the current calendar year.
“We had a goal of investing R$500 million (approximately US$100 million) in three years, but we are going to exceed this amount. In 2020 alone, we made seven acquisitions. In 2021 there were two and we have already started this year with the acquisition of Cobiscorp, through our Topaz venture,” the company explained.
Stefanini employs 30,000 people around the globe, with more than 60% of them based in Brazil, where the company has a presence in almost all major cities.
The Brazilian multinational, founded in 1987, also has operations in 41 countries including China and India.
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