French technology firm Keyrus Group has agreed to acquire Brazil-based data intelligence firm QConsulting in a deal that would significantly broaden its technological expertise and client base.
“The demand for business intelligence, analytics, and big data projects and solutions in Brazil has been growing by 40% a year, even in times of economic crisis,” said Javier Riera, CEO of Keyrus Brazil, in a press release. “Through this acquisition, we are strengthening our teams to meet the growing demand in this country and also the wider region.”
Founded in 2010, QConsulting has 58 employees and counts Ticket, Original Day Bank, JBS, and Eurofarma among its clients.
In addition to business intelligence, the Brazilian firm provides system integration and analytics training services to companies in telecoms, retail, financial services, and pharmaceuticals. QConsulting reported 10 million reals (approximately US$3.5 million) in revenue last year, according to local newspapers.
Keyrus says its Brazilian unit achieved more than 15% organic growth last year despite the economic storm, because “data is now becoming the ‘backbone of businesses’ and reshaping their economic models”, says the firm.
Already staffed with more than 400 consultants, Keyrus Group says it would soon add another 100 employees to its payroll in Brazil and expand operations deeper into Latin America.
“The key factor behind the success of this operation is unquestionably the trust built up over the months spent working together on projects for our joint clients,” said Eric Cohen, Founder of Keyrus.