TIVIT acquires Open Concept and expands its Systems Applications services
Acquisition reinforces TIVIT’s involvement in the financial area
Press Release, 05/06/2008

TIVIT, a company of the Votorantim Group, announces the acquisition of Open Concept, a company that develops, analyzes, implements, and maintains transactional systems for banks and credit card administrators.

Open Concept serves large financial institutions by offering very specialized large volume transactional systems, with clients in six countries. Furthermore, Open Concept is the only company that distributes and maintains transactional systems and other payment solutions for the American company, E-Funds.

With this acquisition, TIVIT strengthens its highly specialized team with nearly 200 professionals from Open Concept, in order to meet the mission-critical needs of banks, financial institutions, insurance companies, and credit card administrators.

The acquisitions brings to TIVIT the know-how for systems that process high volumes of transactions and require high levels of availability.

With this merger, around 20 large Open Concepts clients, such as Bradesco, HSBC, Unibanco, Redecard, and Fidelity, will have available to them a structure of more than 1,000 professionals to take over and carry out large-scale systems projects. This business expansion will be benefited by TIVIT’s software factory in São José dos Campos.

TIVIT will reinforce its investments in the formation of a new generation of COBOL programmers, systems analysts, and consultants specialized in the financial segment. IN this way, TIVIT is establishing its competitive structure to meet the growing demand of the Brazilian market and its offshore strategy.

“This operation is a part of our plan to acquire strategic competence areas for TIVIT, because the know-how of Open Concept’s professionals in the financial area will create new opportunities to boost and accelerate our growth in the Systems Applications area,” states TIVIT’s President, Luiz Mattar.

The acquisition of Open Concept reflects TIVIT’s expansion strategy, based on the pillars of organic growth, acquisitions, and internationalization. “We will continue growing in a sustainable organic manner and through ive acquisitions that consolidate and complement our portfolio of services,” affirms Paulo Henrique de Oliveira Santos, President of TIVIT’s Board of Administration and President of Votorantim Novos Negócios.

For Open Concept, this operation will be of benefit to all involved. “Our team is pleased to be a part of a large company that has robust, large-scale projects. And our clients will have an even more complete and integrated service portfolio,” says José Maria Gadanha, President of Open Concept, who will now be one of TIVIT’s directors.

About TIVIT

TIVIT is the first Brazilian company to provide integrated Information Technology services, with a portfolio that is divided into three large pillars – IT Infrastructure, Systems Applications, and BPO. The company now has 18 units, distributed among the cities of São Paulo, Rio de Janeiro, Florianópolis, Mogi das Cruzes, Jundiaí, and São José dos Campos. With over 25,000 collaborators, TIVIT serves more than 300 large clients.