Financial services advisory group GFT has purchased the Brazilian operations of Habber Tec, an international business process management firm. The transaction sees 100+ professionals based in Sao Paulo, Curitiba and Porto Alegre transfer to GFT, taking the size of the acquirer’s Brazil based team to around 560.
Founded in 1997, Habber Tec is a business process management (BPM), analytics, mobile and digital transformation specialist with a footprint across the globe. In 2000, the company established its Brazilian operations (‘Habber Tec Brazil’), which has since grown to a team of more than 100 professionals generating revenues of BRL 22.4 million (approximately €5.4 million). Its service portfolio in Brazil mirrors its international profile, with around 60% of local fee income stemming from banks, insurers and other clients in the financial services industry.
As part of the Habber Tec’s strategy to focus on its European operations – the company has further offices in Spain, Portugal and the UK – its management team a while ago decided to divest its Brazilian business. To support the process, Habber Tec hired Equiteq, an M&A firm specialised in the consulting industry, to act as its (exclusive) sell side financial advisor. The London based dealmaker supported Habber Tec with, among others, drafting the deal requirements & target selection, and with a shortlist in place, Equiteq opened discussions with potentially interested parties. On the back of a positive due diligence an agreement was reached with GFT, a Stuttgart headquartered business change and technology consultancy. Globally the consulting firm has more than 4,000 employees, across offices in twelve countries, generating revenues of around €374 million.
The acquisition of Habber Tec Brazil – the transaction was completed on April 11 – enables GFT to add new capabilities to its Brazilian service offering, as well as provide their clients access to a broader suite of complementary services. The move grows its Brazilian team by 105 professionals, taking the total size to around 560. “Habber Tec Brazil adds further expertise in BPM integration and mobile solutions, especially in the fields of credit and digital banking applications. With this acquisition, the GFT Group will strengthen its Brazilian client base by adding renowned banks and further insurance companies,” says Ulrich Dietz, CEO of GFT.
With the pick up, GFT also aims at capitalising on the growing market for IBM BPM solutions – according to Marika Lulay, COO of GFT, the Brazilian market is seeing a growing demand for process management optimisation services, in light of the broader need for efficiency within internal operations. Habber Tec Brazil serves as one of IBM’s larger local partners for BPM products and services.
Fernando Arencibia Darias, shareholder of Habber Tec Brazil and Habber Tec International Group, says that the move marks a “very important step for the Group's strategy”, adding that he looks back with pleasure on the deal process. “We are very pleased with the outcome of the transaction and Equiteq’s support throughout. Their professionalism and expertise was instrumental in structuring, negotiating and completing the deal”.
Commenting on the deal, Gabriela Silvestris, a Director in Equiteq’s London office and lead deal advisor, says she found it an “absolute pleasure” to work with the shareholders of Habber Tec Brazil. “Their strong market position is underpinned by their key competencies in BPM, analytics and mobile solutions which address some of the major challenges banks are facing in the context of digital transformation”.