Adexus eyeing US$130mn in 2011 revenues

- Friday, August 26, 2011

Adexus eyeing US$130mn in 2011 revenues

Chilean systems integrator Adexus is aiming for 30% growth this year to US$130mn and will focus on setting up operations in Argentina and Colombia, Adexus' CEO Carlos Busso told reporters.

Last year growth was flat at US$100mn, heavily affected by the February earthquake, but this year looks back to normal. Busso said that typically the company meets 40% of its growth target in the first half and the other 60% in the second. The 40% has already been met.

According to the executive, Adexus has established itself legally in Argentina and is now looking at Mendoza or San Juan to set up offices, where it plans to focus on providing tailored solutions to the mining industry.

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In Colombia, Adexus entered the market in 2009 in partnership with Chilean counterparts Novared and Switch as part of a Chile-IT export initiative supported by Chilean IT association Acti and state development agency Corfo. Busso said that the operation there is still small and the partnership of companies has yet to win a deal, but there are 4-5 proposals on the table.

Adexus also has operations in Peru and Ecuador that are expected to generate revenues of US$15mn and US$8mn-9mn respectively this year.

Busso said that for the moment the company is not interested in trying to enter the Brazilian market given the tax complexities.

As regards accomplishments this year, the executive highlighted the company's having achieved ISO 9001 certification and landed a number of landmark contracts including: installing the number portability platform for Telcordia, which won the contract in July; and installing the system for Chilean credit card administrator Transbank up and down the country.

And with respect to the potential market reshuffle with Chile's number one systems integrator Sonda's current US$68.5mn takeover bid of number two Quintec, Busso said that he was not concerned and that in many ways it would be easier to focus efforts on competing with one company instead of two.