Benner-TBA Group merger creates Globalweb Corp

- Friday, August 19, 2011

Benner-TBA Group merger creates Globalweb Corp

Brazilian IT firm Benner Sistemas has merged with local IT group TBA to create Globalweb Corp, Benner said in a statement.

The newly created Globalweb will have 240mn reais (US$150mn) in estimated sales this year and a 28% growth forecast. It will have offices in some of the main Brazilian state capitals, with a client base of 800 and roughly 1,500 collaborators and IT experts.

The new enterprise will focus on the cloud computing and SaaS niche, in particular on corporate management applications, outsourcing, and commercialization and development of Microsoft platform-based solutions, Benner said.

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According to the JV terms, Benner shareholders will hold half of Globalweb and TBA the other half. Severino Benner, founder of Benner Sistemas, will be Globalweb Corp CEO, while Cristina Boner, from TBA, will head the board.

"The IT market is going through a global M&A trend. In the future we will see a smaller number of IT vendors, but which are larger and with greater investment capability. It's within this context that the Benner Sistemas and TBA joint venture should be understood," the Benner executive said.

TBA's Boner highlighted the synergies between the merging companies. "Benner focuses on products, with extensive experience in developing software and vertical solutions. TBA, in turn, specializes in services, SaaS, and is entirely prepared to work in the cloud," she said.

"Together we will go faster and further, and we will gain even more market share," Boner added.