Synapsis to invest US$30mn in Argentine software center

Chilean software developer Synapsis plans to invest US$30mn to transfer its Latin American software center to Argentina's capital Buenos Aires, on top of US$120mn spent so far this year, El Cronista reported. Spanish power company Endesa (NYSE: ELE), which owns Synapsis, picked Buenos Aires for the availability of human resources compared to cost, Endesa International managing director Luis Rivera was quoted as saying. From the new center, Synapsis will develop all the software and solutions for its regional customers. These include members of the Endesa group, which has assets across Latin America, as well as other companies from the water, natural gas, electricity, railroad and highway sectors, as well as some state-owned enterprises. Two of the largest customers are Chile's social security system and Colombia's Medellin municipality, whose systems will now be managed entirely from Buenos Aires. Synapsis was established in 1988 in Chile to meet the technology requirements of the Endesa group. As well as Buenos Aires, it has offices in Chile, Brasil, Colombia and Perú. The company was not available for comment when contacted Tuesday.