NTT DATA Corp, the ICT services unit of Japan’s NTT group, has announced that it has signed a deal to purchase Spain’s second-largest information technology firm Everis, which has a significant presence in Latin America. The main aim of the purchase is to cash in on the growing demand for IT services in Latin America, reported Japan’s news paper Nikkei. NTT Group has not disclosed any financial details of the deal, but the newspaper has put the purchase price at $509.45 million.
NTT DATA made its first foray into Latin American in 2011 when it bought Italy’s Value Team SpA, which operates in several countries in the region.
With more than 10,000 employees, Everis has operations in several LATAM countries, including Brazil, Chile, Mexico, Argentina, Colombia and Peru. It provides a wide range of IT services through business and strategy consulting, application development, systems integration and outsourcing to clients in Spain as well as Latin America.
A majority of its clients are in the banking, insurance, telecommunication, public, industry, and utilities sectors.
Madrid, Spain-based Everis reported $796 million in revenue for the fiscal year ended in March 31. The merger with Everis strengthens NTT DATA’s expertise and provides it with access to a large number of clients in Spanish and Portuguese speaking countries.
“Becoming part of this great group grants us many possibilities to develop large and complex projects, offer new services, access new countries and strengthen our leadership in the markets where we operate. It also ensures that the Everis team, with more than 10,000 professionals, will have the best opportunities and professional development,” said Benito Vázquez, CEO of Everis.
“Everis is a growing people-based IT services company with a business model based on high caliber talent,” said Toshio Iwamoto, President and CEO of NTT DATA Corporation.