Chile’s Synapsis has acquired a controlling stakes in Brazilian information technology firm Cyberlynxx, further expanding its footprint in Latin America.
Financial details of the deal have not yet been revealed.
Synapsis stated that the acquisition will help it realize the goal of generating USD #35 million revenue in Brazil and $140 million in Latin America by the end of 2012. According to reports, Synapsis is focused on increasing its revenue to $250 million by 2015.
With over eleven years of experience in the IT industry and over 50 active customers in Brazil and the United States, Cyberlynxx offers a wide range of IT management solutions. Cyberlynxx has several large Brazilian clients like Petrobras, Blue, Basf and Magazine Luiza.
The acquisition helps Synapsis double its size in the Brazilian market, both in terms of staff and capacity, increasing its number of employees to 1400 in Latin America. Synapsis has unveiled a plan to invest $20 million in Cyberlynxx over the next three years.
For Synapsis, this is the second acquisition in Latin America in the past one year. A few months ago, it acquired data center service provider Colombia Diveo.
“This acquisition strengthens our position as a leading IT company in Brazil, expanding the presence (footprint) in the states of Rio de Janeiro and Sao Paulo, “said Francisco Alvarez-Demalde, founding partner of Riverwood Capital and Director of Synapsis.
Cyberlynxx’s president Marcelo Astrachan said his company is a ‘perfect fit with Synapsis.’
With 400 employees, Synapsis runs a data center and an applications development center in Brazil.
“With this acquisition, we enhanced our strategic positioning in Brazil and empowered the network of Competence Centers we have in seven Latin American countries. We are pleased that we continue taking firm steps to double the company by 2015,” said Leonardo Covalschi, CEO of Synapsis.