Grupo Assa to expand operations to the US, Europe

Friday, November 18, 2011

Latin American consultancy and systems integrator Grupo Assa is planning to expand operations to the US and Europe, online news source Computer World reported.

The plans will be backed by a US$20mn capital injection from the World Bank's private sector arm IFC and HSBC Latin America Partners.

After consolidating operations in Latin America with eight offices, the company has decided to establish direct presence in these markets where it was previously serving customers through local agents.

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In spite of the economic slowdown, these markets offer opportunities to expand the company's outsourcing business, Grupo Assa's CEO Roberto Wagmainster was quoted as saying.

"Our clients are driving us to the US and Europe. We are following their demands," he said. In the US, the company is aiming for the health, retail, natural resources and mining verticals.

The expansion plans are part of the company's goal to increase revenues by 40% this year, from US$85mn posted in 2010, and reach US$150mn by 2013.

Part of the resources have also been invested to set up a delivery center in Argentina and another in Mexico, totaling five centers operating in Latin America. Grupo Assa already had one center in Buenos Aires and another two in Brazil.