SOURCE: Stefanini IT Solutions

Stefanini IT Solutions

February 25, 2009 10:41 ET

Stefanini IT Solutions Continues North American Expansion With Opening of Chicago Office

Brazil-Based IT Outsourcer Targets Midwest in 2009 Growth Plans

FORT LAUDERDALE, FL--(Marketwire - February 25, 2009) - Stefanini IT Solutions (www.stefanini.com), a global provider of IT consulting, integration and development, and outsourcing services, announced today the completion of yet another step in its expansion of North American operations, with the opening of a new office location in Chicago. The company is targeting the Midwest as a key growth opportunity for the Brazil-based IT outsourcer.

Stefanini, which operates in 16 countries with 36 offices on four different continents, launched its North American operations with headquarters in Florida in 2001. Since then, the company has added offices in Atlanta, New York and Montreal in support of the growth of its client base in the region.

"The opening of Stefanini's Chicago office is a major step in the continued expansion of our operations in the U.S.," said Antonio Moreira, Stefanini's CEO of North America. "Stefanini is projecting 50 percent growth in U.S.-generated revenues for 2009, and Chicago and the Midwest are key elements of our business plan for the region."

Stefanini chose Chicago for a variety of reasons, including the national rating of the city's large gross metropolitan product as well as its balanced economy and high level of diversification. Also, Chicago and its surrounding metropolitan area are home to the second largest labor pool in the United States with approximately 4.25 million workers.

"Despite the current economic challenges, Stefanini feels the North American market offers great opportunities, and we are very well positioned given the value-added services and the flexible engagement models we're able to offer to our clients," said Moreira.

Stefanini -- which added 40 new clients and grew revenues by 35 percent in 2008 -- expects to continue the expansion of its North America operations in 2009 in line with business growth, and acquisitions are a key element of this strategy. The company is currently evaluating possible acquisition targets as well as new office locations.

"Going forward, acquisitions will allow us to strengthen local presence in North America and increase our client portfolio," said Moreira.

In addition to the increases in revenues and its client base, other highlights for Stefanini in 2008 include the opening of the company's first office in Canada, and the establishment of Stefanini's fourth development center in Mexico, a strategic location for the company. Operations in Mexico grew 80 percent last year and are expected to grow at the same pace in 2009 as Stefanini continues to experience a rise in demand for nearshore IT services.

About Stefanini

Stefanini IT Solutions is a global provider of onshore and nearshore IT consulting, systems integration and outsourcing services. The company has more than 7,400 employees with 36 offices in 16 countries, and more than 350 active customers across a broad spectrum of markets, including energy and utilities, insurance, manufacturing and distribution, oil and gas, financial services, and telecom. One of Brazil's leading IT companies, Stefanini IT Solutions is CMMI Level 5 and ISO 9001:2000 certified. Founded in 1987, Stefanini IT Solutions currently has operations worldwide, including North American headquarters in Fort Lauderdale and offices in Atlanta, Chicago, New York, and Montreal.

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