Lodestone enters South American market

- Wednesday, October 26, 2011

Lodestone enters South American market

Swiss firm Lodestone Management Consultants has expanded to South America with a subsidiary in São Paulo, the company said in a statement.

The new office is part of Lodestone's international expansion, and looks to address the increasing need for strategy and process optimization and IT transformation in the South American market.

The consultancy has invested 10mn reais (US$5.67mn) to open the new office, which will start operating with 30 professionals and expects to close 2012 with 200 employees, according to news source Computer World.

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The facility will serve as a starting point to serve the South American market, with plans to open new offices in Argentina by 2013, and in Chile and Colombia by 2014.

"We're aiming for multinational and Brazilian companies looking to internationalize operations. These are companies facing complex processes that need to be streamlined to increase competitiveness," said Frank Dorr, Lodestone's new head of operations in Brazil.

Lodestone expects to achieve growth rates of around 7-8% a year, Dorr was quoted as saying.

Founded in 2005, the company specializes in SAP solutions. It posted revenues close to 158mn euros (US$218mn) in 2010.