itelligence-group Reached an Agreement to Acquire a Majority Stake in FH, Brazil
Strong alliance for innovative SAP business between Germany and Brazil
SÃO PAULO and BIELEFELD, Germany, Oct. 3, 2019 /PRNewswire/ -- Today, itelligence-group, the globally leading SAP consulting company within NTT DATA Group, is announcing that they reached an agreement to acquire a majority stake in FH S.A. (FH) to make its entry into the Brazilian SAP market. In line with the usual market rules and regulations, the closing of the transaction is conditional upon the receipt of regulatory approvals, including the approval by the Brazilian antitrust authorities (CADE), and satisfaction of other customary conditions. CADE's approval is expected to be granted within the next few weeks.
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Founded in 1999, FH is one of Brazil's leading SAP consulting and development companies. Its SAP-based tax solution is in use by companies that together account for over 8% of Brazil's GDP. The company also has an excellent market position globally. FH is thus Latin America's leading vendor in the area of SAP's Customer Experience portfolio and has completed numerous successful SAP rollout projects in over 30 countries.
Norbert Rotter, CEO of itelligence AG: "For itelligence-group, a globally operating company with 26 subsidiaries of its own today, the acquisition of FH represents a strategic expansion into the Latin American market. We are gaining 700 SAP colleagues in 6 locations in Brazil, who will become part of a global team numbering 9,200. With FH's own IP, in conjunction with innovative SAP technologies, we will be well equipped to achieve further growth, both inside and outside Brazil."
With this acquisition, itelligence-group is expanding its presence in one of the currently strongest-growing economic regions in the world. According to IDC and Gartner, Brazil is the eighth largest IT market globally. It grew in 2018 by 9.8% and market analysts expect an above global average growth rate until 2024.
Due to increasingly stringent obligations regarding transparency and compliance, there is a high demand in Latin America's largest economy particularly for ERP software and financial management solutions. The two partners also see substantial growth potential in the areas of marketing, CRM, e-commerce, and for IoT (Internet of Things) solutions.