MUMBAI, INDIA--(Marketwire - Feb 15, 2013) - Mahindra Satyam, a leading global consulting and IT services provider, today announced the acquisition of a majority stake in Complex IT, one-of-the largest SAP consulting providers in Brazil.
This acquisition will focus on developing solutions for the rapidly expanding Enterprise Solutions market within Brazil. Mahindra Satyam and Complex IT will be going to market with proprietary solutions for large manufacturing, financial and consumer services companies in the market. This initiative marks another important milestone in offering Mahindra Satyam's customers a global delivery capability in Latin America.
"This combination of Complex IT and Mahindra Satyam strengthens our commitment to the Brazilian market, which is one of the fastest growing enterprise solutions markets. We look forward to expanding our market presence and offer global delivery capabilities to our customers," said Arvind Malhotra, Global Head, Latin America & Strategic Accounts, Mahindra Satyam.
"The BRICS countries have the potential to achieve a leadership position in the global economy and we believe that Mahindra Satyam and Complex IT will contribute significantly to this strategic vision. The relationship with Mahindra Satyam will mean enhanced career opportunities for our team, and increased quality of services to our customers and partners," said Antonio Rossi, Chairman & CEO, Complex IT.
Brazil is the second fastest growing geography globally for SAP AG. Software revenues for SAP AG grew 20% in the last year. The current spend on IT by companies in Brazil is approximately US$70B, with US$36B being spent on services and software. As Brazil gears up to host FIFA 2014 and the Olympics in 2016, it would only provide an increased impetus to an already rapidly growing IT services market.
Together, Complex IT and Mahindra Satyam would be well positioned to combine local expertise with ability to deliver large and complex projects, in a period of sustained profitable growth for both partners.
About Mahindra Satyam
Mahindra Satyam is a global business consulting and information technology services company leveraging deep industry and functional expertise, leading technology practices and a global delivery model to help businesses transform their processes and improve performance. The company's professionals excel in enterprise solutions, supply chain management, client relationship management, business intelligence, business processes, engineering and product lifecycle management, infrastructure services, among other services. The company has development and delivery centres in the United States of America, Canada, Brazil, the United Kingdom, Germany, France, Hungary, Egypt, United Arab Emirates, India, China, Malaysia, Singapore, and Australia and serves numerous clients, including many Fortune 500 organizations.
Mahindra Satyam along with Tech Mahindra, a leading global systems integrator and business transformation consulting services provider to Telecom companies and Telecom Equipment Manufacturers, forms the IT sector in the USD 15.9 billion Mahindra group. The Mahindra Group employs more than 155,000 people in over 100 countries and operates in key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership.
About Complex IT
Complex IT was established in 1998 and today is a very successful SAP full services provider with more than 500 consultants, and more than 120 active clients. It has in its services portfolio, several implementation projects and services delivery in large Brazilian customers, in all industry segments.
Complex IT is based in São Paulo (Headquarter) and offices in Rio de Janeiro and Porto Alegre. Within the SAP local market, it is one of the top players. The company is privately held, targeting to expand its participation in other sectors and locations.
For more information, see www.mahindrasatyam.com
For more information, see www.complex.inf.br
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Certain statements in this release concerning the future prospects of Satyam Computer Services Limited ("the Company" or "Mahindra Satyam") are forward-looking statements. These statements by their nature involve risks and uncertainties that could cause Company's actual results differ materially from such forward looking statements. The Company, from time to time, makes written and oral forward-looking statements based on information available with the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.