Quintec plans acquisitions in Brazil, Argentina
Bnamericas Published: Thursday, May 05, 2005
Chilean tech holding company Empresas Quintec is planning to acquire companies in Brazil and Argentina as a means of expansion, local newspaper El Mercurio reported. According to CEO Jorge Salvatierra, the company aims to become the largest IT company in Latin America by 2010, when sales could reach US$500mn, nearly 10 times the current amount. With financing being a critical issue of expansion, the company's presence on the Santiago stock market should give it access to needed capital. Quintec is currently the only IT company listed on the Santiago market, and could issue more shares in the future to finance its plans. The company, partly owned by US investment firm Explorador Capital Management, has three subsidiaries - systems integrator Un0 Computerland Microcare, enterprise software developer iUn0 Aplicaciones Internet, and Repcom, which represents US computer manufacturer Apple in Chile.
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