Sinqia (SQIA3) concludes process for the acquisition of Itaú Soluções Previdencárias

Charlie Taylor

Sinqia (SQIA3) announced the conclusion of the acquisition process of Itaú Soluções Previdencárias (ISP), a company of the Itaú Unibanco Conglomerate specialized in financial technology and services for Closed Private Pension Plans EFPC. All conditions precedent were met for the completion of the acquisition of the ISP.
Announced in August, the acquisition was closed for R $ 82 million in yet another move by Sinqia to expand the product offering for the segment. With the acquisition, the company incorporates more than 150 employees, more than 30 customers and ISP offices in São Paulo and Rio de Janeiro. In the last 12 months prior to the acquisition, ISP reported gross revenue of R $ 50 million.
“We continue with the strategy of boosting the financial market through technology and innovation. With the ISP, in addition to having a competent and highly experienced team, we added the BPO offer for pension management, in addition to SaaS (Software as a Service) solutions, with high capacity and security. This acquisition reflects our credibility, based on Itaú's confidence in delivering the continuity of services provided to group companies and other ISP customers. We remain firm in our commitment to continuous improvement aiming to always deliver the best to our customers ”, commented Bernardo Gomes, CEO of Sinqia.
Sinqia (SQIA3) reports net profit 25.8% lower in the third quarter

Strategy

Sinqia follows its consolidation strategy, which is responsible for an expressive track record of 17 successful acquisitions in recent years, the last one being made in November. In 2019, the company raised R $ 362 million through a subsequent share offer (follow-on) to follow its growth strategy. “This process was essential for financing this acquisition, reaffirming the consistency of our growth and innovation strategy that will continue to be accelerated”, adds Gomes.Alter - Cryptoback
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The post Sinqia (SQIA3) concludes the process for the acquisition of Itaú Soluções Previdencárias first appeared in 1 Billion Financial Education.


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