Brazilian financial software and service provider Crivo is planning to carry out acquisitions this year, the company’s marketing head, Rodrigo del Claro, told BNamericas.

Del Claro said Crivo is already engaging in advanced conversations with other Brazilian companies and could pull the trigger on a deal or two this year.

“We’re looking for companies with the same focus as us,” he said. “We’re looking to incorporate new products [with the acquisition of other firms]… we’re looking for companies that provide complementary services to credit risk analysis.”

Crivo’s existing credit analysis portfolio includes statistical modeling, credit intelligence and operational assistance. The executive noted that Crivo is also looking to include workflow and expand its statistical modeling services.

INTERNATIONAL EXPANSION

Crivo’s international expansion will not be this year, as the company will instead focus on opportunities in the domestic market. Still, del Claro noted that going abroad is definitely in the cards in the medium term.

“International expansion hasn’t panned out yet, but it is something that we’re studying,” he said. “The domestic market is still profitable.”

Crivo expects overall 2010 revenues to double to 40mn reais (US$22.6mn) this year. The banking sector currently accounts for 45% of Crivo’s revenues, followed by insurance companies with 25%, telecommunications with 15% and retail with most of the remainder.

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