itelligence-group Reached an Agreement to Acquire a Majority Stake in FH, Brazil

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SÃO PAULO and BIELEFELD, Germany, Oct. 3, 2019 /PRNewswire/ -- Today, itelligence-group, the globally leading SAP consulting company within NTT DATA Group, is announcing that they reached an agreement to acquire a majority stake in FH S.A. (FH) to make its entry into the Brazilian SAP market. In line with the usual market rules and regulations, the closing of the transaction is conditional upon the receipt of regulatory approvals, including the approval by the Brazilian antitrust authorities (CADE), and satisfaction of other customary conditions. CADE's approval is expected to be granted within the next few weeks. 

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Founded in 1999, FH is one of Brazil's leading SAP consulting and development companies. Its SAP-based tax solution is in use by companies that together account for over 8% of Brazil's GDP. The company also has an excellent market position globally. FH is thus Latin America's leading vendor in the area of SAP's Customer Experience portfolio and has completed numerous successful SAP rollout projects in over 30 countries.

Norbert Rotter, CEO of itelligence AG: "For itelligence-group, a globally operating company with 26 subsidiaries of its own today, the acquisition of FH represents a strategic expansion into the Latin American market. We are gaining 700 SAP colleagues in 6 locations in Brazil, who will become part of a global team numbering 9,200. With FH's own IP, in conjunction with innovative SAP technologies, we will be well equipped to achieve further growth, both inside and outside Brazil."

With this acquisition, itelligence-group is expanding its presence in one of the currently strongest-growing economic regions in the world. According to IDC and Gartner, Brazil is the eighth largest IT market globally. It grew in 2018 by 9.8% and market analysts expect an above global average growth rate until 2024.

Due to increasingly stringent obligations regarding transparency and compliance, there is a high demand in Latin America's largest economy particularly for ERP software and financial management solutions. The two partners also see substantial growth potential in the areas of marketing, CRM, e-commerce, and for IoT (Internet of Things) solutions.

Ricardo Fachin, CEO of FH: "For over 20 years, we have built up know-how in various business processes in collaboration with our customers and developed software and service offerings to help people in companies engaged in various lines of business: manufacturing, agribusiness, retail, professional services, finance, and utilities. We make use of innovation in our efforts to simplify business processes for our customers. In 2018, we launched ECG, our cloud-based tax and e-invoicing software, and in 2019, we endowed our tax solution GUEPARDO with machine learning functionalities.

In this new phase, we shall make use of itelligence's know-how and global presence to strengthen our position in the Brazilian market and to expand our software and service offering. This will generate new opportunities, not only for the company but for our employees as well. We are now even better qualified to fulfil the needs of customers with international operations, and we are well placed to strengthen our position as one of the favorite strategic technology partners in Brazil."

The two parties have agreed to keep the purchase price confidential.

FH

FH is a Brazilian company enjoying solid growth. As an important SAP partner, it offers SAP services and software development. It provides end-to-end services for SAP S/4HANA, SAP C/4HANA, as well as its own tax software (GUEPARDO and ECG). As an SAP Gold Partner, it services its customers from six locations in Brazil and operates a certified support center (PCoE – SAP Partner Center of Expertise) in Curitiba/Brazil. https://www.fh.com.br/eng/

itelligence

itelligence transforms IT landscapes and business processes through the combination of innovative SAP software and technology with services and products developed in-house.  As an SAP Global Platinum Partner, itelligence supports SMEs and large enterprises in every phase of their digital transformation. itelligence's range of services includes IT strategy and transformation consulting, software deployment and implementation, as well as application management and managed cloud services. The excellence of these services is built on the foundation of itelligence's local presence, global capacity, and comprehensive industry expertise. itelligence partners with customers to create new and innovative business opportunities through the use of IT – for each facet of the customer's business. Thousands of satisfied customers have placed their trust in itelligence, many of them since the company was founded 30 years ago. itelligence's contribution to innovation and long-term business success has been confirmed by numerous SAP awards and leading market analysts. itelligence is part of the global NTT DATA group and employs about 9,200  people across 26 countries. In 2018, itelligence generated 926.6 million euros in total revenues. https://itelligencegroup.com

Press contact:
Head of Corporate Public Relations itelligence AG
Silvia Dicke
itelligence AG
T: +49 (0) 521 / 9 14 48 - 107
E-mail: [email protected]

SOURCE itelligence AG

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https://itelligencegroup.com