Tivit's spin-off will only operate in Brazil at first

Thursday, November 24, 2016

Brazilian IT and business process outsourcing (BPO) firm Tivit is spinning off its BPO business, creating a new company called Neobpo specifically dedicated to this segment.

The new firm will also focus on the development of trendy digital solutions for corporates, including robotics, automation, artificial intelligence and cognitive computing.

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However, the new company will not operate outside Brazil, at least not initially.

"As our traditional BPO services also weren't available outside Brazil, Neobpo won't be either," André Frederico (pictured), executive director for corporate development at Tivit, told BNamericas. "But that doesn't mean Neobpo can't find business opportunities outside Brazil in time," Frederico added, saying the spin-off was motivated by the need for "strategic freedom".

Tivit operates in seven Latin American countries, providing mainly cloud, security and IT services, some of these from its nine datacenters in Brazil, Chile, Colombia, Peru and Argentina. According to Federico, this strategy for Latin America remains unchanged.

The new company is being created with an estimated 700mn reais (US$205mn) in annual revenues and a structure comprised of 13 units and 20,000 employees. Neobpo will "inherit" a portfolio of 50 clients from Tivit, including a number of major Brazilian enterprises.

For the development of its artificial intelligence platform, the Neobpo team evaluated 20 technology companies, Frederico said, although he did not disclose who the chosen partner was.

Management will be "independent", but Tivit's CEO and co-founder Luiz Mattar will have a seat at the board of Neobpo, as will UK private equity firm Apax Partners, which owns part of Tivit. Tivit will also have "preferred treatment" in the relationship with the spun-off firm, Frederico said.

Neobpo's appointed CEO, effective January 1, will be Marco Lupi.