Financial sector propels Multirede's 88% sales surge in 2010

- Monday, January 10, 2011

Financial sector propels Multirede's 88% sales surge in 2010

Business from the financial and infrastructure sectors drove Brazilian IT integrator Multirede's 88% revenue jump to 60mn reais (US$35.5mn) in 2010, business director Carlos Carnevali Junior told BNamericas.

The same sectors are expected to push the company's estimated 30% revenue increase in 2011.

The financial sector, lead by the Brazilian stock index BM&FBovespa, contributed 50% of Multirede's revenues last year. The company's focus is therefore tailoring IT solutions to meet the market's needs for security, accessibility and speed, Carnevali said.

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"These transactions need to be carried out very quickly - we're talking about microseconds - and IT improvements can have great impact on the market's total value," he said.

Infrastructure companies involved in preparing the country for the 2014 World Cup and Rio de Janeiro for the 2016 Olympics have also helped Multirede outperform the IT market, Carnevali added.

For 2011, Carnevali expects network security to be the paramount theme for the company and its clientele. This concern has thus far inhibited many of Multirede's customers, primarily large enterprises, from joining the trend toward cloud and virtualization solutions.

Carnevali also said that working with Brazilian multinationals, such as construction firm Odebrecht, in Portuguese-speaking Africa, particularly Angola, will continue to be a focus for the IT company. Africa accounts for some 30% of Multirede's revenues, he said. Otherwise, Carnevali anticipates further expansion will be concentrated in the Southern Cone of South America.