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News from Latin America
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December 15, 2000: 1:23 p.m. ET
Soluziona finalizes STI deal; Brazil's Promon IP purchases 2PG
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NEW YORK (BNamericas.com) - Promon IP bought systems integrator 2PG, Soluziona finalized the 60 percent acquisition of e-solutions provider STI, and Synapsis announced a new investment in Chile and Brazil worth $2 million.
Promon IP purchases 2PG
Brazilian e-business solutions provider Promon IP announced it acquired on Dec.11 Rio de Janeiro-based systems integrator 2PG for an undisclosed amount.
2PG has offices in Rio de Janeiro, Sao Paulo and New York. Founded in 1996, it provides Web design, Internet applications and e-commerce solutions to companies. Previous shareholders included Grupo Monteiro Aranha, Logic International and entrepreneur Henrique Cordeiro Guerra Neto.
Promon IP is the e-business subsidiary of Brazilian telecommunications, electricity and industrial infrastructure company Promon. Since its creation in March 2000, it has bought Sao Paulo-based e-business integrator Webra, and Porto Alegre-based mobile solutions integrator Intex.
Promon IP will seek similar opportunities to acquire companies in 2001, Promon IP president Rodrigo Abreu said.
Soluziona finalizes STI deal
Internet services provider Soluziona, part of Spanish energy and management systems group Union Fenosa, has finalized the 60 percent acquisition of Chilean e-solutions provider STI for $4.2 million, Soluziona announced.
Last month, Soluziona paid $16 million for Brazilian online marketing and e-commerce firm Hypernet Interactive and announced plans to move its South American headquarters from Uruguay to Brazil on Jan. 1 as part of a strategy to bolster its performance in Latin America's largest market.
Soluziona, which employs 5,300 people in 42 countries, expects to bill $420 million worldwide this year.
Synapsis to invest $2 million in new projects
Chile-based Internet solutions provider Synapsis plans to invest $2 million in new projects in Chile and Brazil next year, El Cronista (Argentina) reported.
Synapsis provides Internet technology to public service companies, operating out of Argentina, Brazil, Colombia, Chile, Ecuador, Peru and Spain. It expects to bill $55 million in 2000, compared with $33 million in 1999, and to reach $99 million in 2001.
The company is now eyeing Mexico and Venezuela as its new expansion targets, Latin American manager Victor Munoz said.
Synapsis is the technology subsidiary of Chilean power holding company Enersis, which in turn is controlled by Spanish power giant Endesa.
In Chile, Synapsis works in conjunction with Endesa's Internet service provider subsidiary Mundivia, which initiated operations in the country in October this year. The companies have signed an agreement to work together throughout the region.
Source BNamericas.com 
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BNamericas.com
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