GetNet, a Brazilian IT products and services provider specialized in electronic payment transactions, plans to invest US$70mn in its Latin American operations during 2009, including acquisitions and a new business line, company president José Renato Hopf told BNamericas.
The specific amount for acquisitions has not yet been determined as it would depend on business opportunities, he said.
The total investment also includes the purchase of ATMs through which GetNet plans to offer the same services it currently offers to stores, including electronic transactions, top-up services for telephony operators and urban transport ticket issuing.
According to Hopf, a more detailed plan for this new business unit will be ready by year-end.
With operations in Brazil and Chile, GetNet posted US$1.1bn in revenues in 2007 and aims for US$1.7bn this year. The goal is to grow sales by some 60-70% next year, when the company is expected to also have presence in Colombia, Mexico and Peru.
Hopf plans to start operations in Colombia before the end of this year, while the other two offices would open during 2009. The firm is also eyeing a second acquisition in Chile, which is set to close before year-end.
"In Colombia we'll begin operations through an acquisition and we are already talking to two companies. However, if negotiations don't end well, we will start business directly," Hopf said, adding: "The opportunities in Colombia are big and by having a larger population, it [the IT market] will probably be larger than Chile in a couple of years."
Founded in 2003, GetNet started its expansion plan mid-2008 with the acquisition of Chilean IT firm Celcarga. The executive said GetNet selected Chile as the first step in its expansion strategy because of the country's economic situation and how advanced it is in terms of technology and services.
No comments:
Post a Comment