CSC (Falls Church, VA.) has acquired VIXIA Consultoria e Tecnologia Ltda., a So Paulo-based IT services firm focused on providing core operational software, business consulting and systems integration services to leading insurance, reinsurance and financial institutions in Brazil. CSC says the combination of its existing assets and VIXIA will offer the Latin American market a proven, global portfolio of financial services-specific applications and services, along with deep, local market and service delivery expertise. The acquisition advances CSCs position to support the expansion objectives of its multinational clients, as well as its position to pursue and win new business in this emerging financial services market, a vendor statement asserts. Financial terms of the agreement were not disclosed.
CSC reports the acquisition in the context of the vendor's introduction of software and services to the Latin American market in 2009, following CSC's strategic acquisition of a consulting and systems integration firm in Brazil. CSC notes that with the acquisition VIXIA, the vendor will matriculate a leadership team and staff with experience and relationships with regional insurers and banks industries that are moving to modernize their technology capabilities in Brazil and Latin America, the CSC statement says.
Joining forces with a leading global organization with all the financial services industry capabilities that CSC provides will enable us to offer our clients and prospects a much broader set of industry-specific and globally proven solutions and capabilities, comments Geraldo Cavagnari, president, VIXIA, who along with Wagner Antunes, sales director, will join CSC as managing directors of the Financial Services Group in Brazil. Together, we can focus our expertise and resources to address the current and future mission-critical needs of the Latin American insurance and banking industry.
Ray August, president of CSC's Financial Services Group comments: Expanding our financial services business in high-growth geographies, including Latin America, is a key thrust of our strategy, and the acquisition of VIXIA enhances CSCs ability to serve both local and multinational clients operating in the region.
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio