Mexican mission-critical services provider Kio Networks expects to triple its initial investment in Colombia by 2015, the company's new business director, Alejandro Flores, told BNamericas.
Kio Networks recently acquired the majority shareholding of Colombian IT provider SEM Soluciones Empresariales to geographically expand business. Financial details of the deal were not disclosed.
With this acquisition, Kio Networks plans to increase its workforce in Colombia from 100 to 200 in the next 18 months.
"Colombia is an open market, with a government that provides opportunities to foreign companies so they can promote their business," said Flores, who highlighted the similar way that Colombians and Mexicans do business, "which gives us the security that our business will be carried out."
From now on, Grupo SEM becomes Kio Networks Colombia, allowing the former to expand its portfolio and allowing Kio Networks to grow geographically.
Founded in 2001, Kio Networks is 100% Mexican owned.