NetSol signs deal with Brasilinvest to create local software JV

- Thursday, May 19, 2011

NetSol signs deal with Brasilinvest to create local software JV

US firm NetSol Technologies announced Thursday that it had signed a memorandum of understanding with Brasilinvest Group to create a Brazilian software and IT services joint venture focused on Latin America.

Under the agreement, NetSol will hold a 60% stake in the joint venture, while Brasilinvest will control the remaining 40%.

In a statement, NetSol cited recent forecasts by Business Monitor International predicting that Brazil's total software market will be worth US$4.4bn in 2011 and will grow at a compound annual growth rate of around 16% through 2015.

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