November 24, 2020

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HOME REGIONS Latin America › CSC snaps up Vixia in Brazil

CSC snaps up Vixia in Brazil

by Stuart Wilson, Monday 20 June 2011

IT services giant CSC has boosted its presence in Latin America, snapping up Sao Paulo-based Vixia in Brazil for an undisclosed sum. Vixia is focused on providing core operational software, business consulting and systems integration services to leading insurance, reinsurance and financial institutions in Brazil.

CSC reckons that the deal advances its ability to support the expansion objectives of its multinational clients, as well as strengthening its position to pursue and win new business in this emerging financial services market.

“Joining forces with a leading global organisation 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,” said Geraldo Cavagnari, president at 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,” Cavagnari added.

By adding Vixia, a previous CSC partner, CSC believes that it gains a leadership team and staff with significant experience and relationships with local insurers and banks. Having these local capabilities improves CSC’s ability to address the needs of this important emerging market, as a growing number of insurance companies and banks in Brazil and across Latin America seek to modernise their IT capabilities.

Ray August, president of CSC’s financial services group, said: “We welcome Vixia to our CSC team of nearly 91,000 professionals from around the globe who help our clients meet important and complex challenges each and every day. 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 CSC’s ability to serve both local and multinational clients operating in the region.”

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