Stuttgart, 12 April 2016 – The GFT Group signed an agreement today to acquire 100 per cent of shares in W.G. Systems Ltda. which represents Habber Tec International Group on the Brazilian market. The company runs all Brazil related activities under the trademark Habber Tec Brazil. The business process management (BPM), analytics, mobile and digital transformation specialist was established in 2000. The company focuses on the implementation and on-going support of BPM, big data, analytics and mobile solutions with a substantial footprint in the financial services industry. Moreover, it has developed a wide range of individual IBM BPM solutions. Habber Tec Brazil’s business is based on robust and long-standing relationships with renowned financial service providers as well as other industries. As a result of the move, GFT will continue its dynamic growth path and benefit first-hand from the new alliance by significantly increasing the size of its Brazilian revenue. The parties have agreed not to disclose the acquisition price.
Despite the recession in Brazil, Habber Tec Brazil has continued to grow continuously during the last five years and possesses a strong and stable financial structure. In 2015, the company reached revenues of BRL 22.4 million (approx. EUR 5.4 million) of which the financial services industry accounted for approximately 60 percent. Revenues for 2016 are expected to grow by around 29 percent. GFT therefore expects the acquisition to add around BRL 29 million (approx. EUR 7 million) to revenues in the financial year 2016. Due to purchase price allocations and integration costs, Habber Tec Brazil will presumably not make any appreciable contribution to GFT Group profits in 2016.
At the moment, Habber Tec Brazil operates with a workforce of around 105 people based in the city of Sao Paulo with branches in Curitiba and a sales office in Porto Alegre. The acquisition raises the headcount of the GFT Group to approximately 4,155 (full-time equivalents) – thereof 559 in Brazil – and extends GFT’s presence in Latin America with its development and sales centres in Brazil, Costa Rica, Mexico and Peru.
“Habber Tec Brazil adds further expertise in BPM integration and mobile solutions especially in the fields of credit and digital banking applications. With this acquisition, the GFT Group will strengthen its Brazilian client base by adding renowned banks and further insurance companies,” says Ulrich Dietz, CEO of GFT Technologies SE. Both entities have long-standing and complementary relationships with blue-chip clients.
“This acquisition will enable GFT to cross-sell its services to Habber Tec Brazil clients and vice versa. There is an increasing demand for IBM BPM product implementation – we will take that chance to boost our business. The team fits perfectly to the GFT culture which is based on strong collaboration and an innovative spirit. We warmly welcome our new professionals and clients – we are excited about the upcoming projects and further cooperation,” states Marika Lulay, COO of GFT Technologies SE.
“Our core competence in BPM, analytics and mobile solutions addresses one of the major challenges banks are faced with in the context of digital transformation. Together with the profound financial services know how of GFT we have great opportunities to become one of the leading IT services providers for banks and insurance companies in the Latin American market,” says Leonardo Vieiralves Azevedo, Executive Director of Habber Tec Brazil.