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Brazilian IT consultancy Essence's newly announced software unit, which the company is investing 1.6mn reais (US$914,000) in, will be spun off by the end of 2012, one of Essence's associates, Alessandre Trentini, told BNamericas.
Essence's new unit, announced last week, will initially aim to develop business solutions with a focus on the civil construction and agroindustry segments, Trentini said.
According to the executive, two contracts have already been signed with construction companies, to be announced shortly. A third one is under negotiation and is likely to be disclosed this year.
"Our goal in the upcoming year is to have at least 10 more contracts added to that list, taking our new unit's client base to 13," Trentini said.
The firm decided to focus on the construction segment after noticing a lack of tailored IT tools aimed at business management in this field.
"We have decided to step into this market as we feel we're mature enough, feeling we've acquired enough know-how from these companies we are used to working with," Trentini said.
The company estimates that the new unit will account for some 10% of its total revenues by 2012.
According to the executive, Essence's new civil construction solutions streamline productivity. Essence predicts growth of around 30% this year, repeating 2010's results, the executive said, without providing hard figures.