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French IT solutions provider Osiatis and Brazilian IT consulting and outsourcing firm Interadapt have signed a deal under which Osiatis will progressively acquire part of Interadapt's shares, the latter said in a statement.
The agreement is said to be part of Osiatis' international expansion and aims to strengthen its participation in high added-value activities, while "at the same time taking advantage of the growth potential in emerging countries," according to the release.
Under the deal's terms, Osiatis' increases in its participation in Interadapt will occurred at different times. The first of these is slated to happen in Q4, and then in the first quarter of 2012, when Osiatis will invest from 8mn-9.7mn reais (US$4.5mn-5.5mn) in Interadact, giving the French company a 27.5-35.0% stake.
The deal is a "milestone for a new era in Osiatis development," allowing the firm to take its first steps in an emerging country, Osiatis presidents Jean-Maurice Fritsch and Bruno Grossi said.