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Brazilian software development group Totvs (Bovespa: TOTS3) has acquired 100% of Gens Tecnologia e Informatica in a move to bolster sales in the healthcare sector, Totvs said in a statement.
Totvs will pay up to 17.8mn reais (US$10.7mn) for Gens Tecnologia, which controls Gens SA, a development franchise for the Datasul brand software applications that specializes in the health market. Totvs purchased Datasul in 2008.
The transaction will enable Totvs to further integrate its software solutions using products that originate from Datasul, the company said. The deal also fits with a general corporate strategy of achieving a more efficient research and development structure.
Totvs global revenues reached 303mn reais in the third quarter of 2010, a 20% increase over 3Q09. The company has yet to release data for 4Q10.